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- Following the first “oil shock” of 1973–1974, OPEC assumed control over the production and price of oil, ending the rule of the companies and humbling the United States, which suddenly found itself dependent upon OPEC for its energy security.
Feb 9, 2010 · In October 1973, OPEC ministers were meeting in Vienna when Egypt and Syria (non-OPEC nations) launched a joint attack on Israel. After initial losses in the so-called Yom Kippur War, Israel...
- A Shoemaker Leads German Soldiers in a Robbery
On October 16, 1906, Wilhelm Voigt, a 57‑year‑old German...
- U.S. Aid to Contras Signed Into Law
In a short-lived victory for the Nicaraguan policy of the...
- Benji
On May 31, 1974, Benji, a film about a stray dog who helps...
- A Shoemaker Leads German Soldiers in a Robbery
In late December 1973, OPEC held a conference in Vienna when it was announced the price for a barrel of oil was to from $5 US dollars per barrel to $11.65 US dollars per barrel. [72] Faisal was opposed to the price increase, which was largely the work of the Iranian delegation. [74]
Sep 27, 2021 · During the 1973 Arab-Israeli War, Arab members of the Organization of Petroleum Exporting Countries (OPEC) imposed an embargo against the United States in retaliation for the U.S. decision to re-supply the Israeli military and to gain leverage in the post-war peace negotiations.
During the 1973 Arab-Israeli War, Arab members of the Organization of Petroleum Exporting Countries (OPEC) imposed an embargo against the United States in retaliation for the U.S. decision to re-supply the Israeli military and to gain leverage in the post-war peace negotiations.
Oct 18, 2013 · In 1973, that oil shock looked like a triumph for OPEC and a calamity for the rest of the world. The OPEC states enjoyed enormous windfalls and new geopolitical influence, whereas the United States and other oil importers were hit by unprecedented fuel costs and painful recessions.
- Foreign Policy News
Oct 15, 2013 · In 1973, that oil shock looked like a triumph for OPEC and a calamity for the rest of the world. The OPEC states enjoyed enormous windfalls and new geopolitical influence, whereas the United States and other oil importers were hit by unprecedented fuel costs and painful recessions.
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In response to American aid to Israel, on October 16, 1973, the Organization of Arab Petroleum Exporting Countries (OAPEC) raised the posted price of oil by 70 percent, and the next day, oil ministers agreed to a cut in production. Saudi Arabia and the other Arab oil-producing states joined the embargo on October 20, 1973.
