1973 oil crisis

Period

1973

Region

Middle East

Category

Economy

In October 1973, the Organization of Arab Petroleum Exporting Countries (OAPEC) announced that it was implementing a total oil embargo against countries that had supported Israel at any point during the 1973 Yom Kippur War, which began after Egypt and Syria launched a large-scale surprise attack in an ultimately unsuccessful attempt to recover the territories that they had lost to Israel during the 1967 Six-Day War.

Sources: Wikipedia — 1973 oil crisis · CC BY-SA 4.0