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17/10/1973 OPEC states declare oil embargo

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What is OPEC? | CNBC International

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1973 Oil Crisis

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OPEC OIL EMBARGO - 1973

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Who Controls The World's Oil?

The members of the OPEC announced an oil embargo on nations that supported Israel during the Yom Kippur War. The price of oil rose from US$3 per barrel to nearly $12. The embargo was followed by an oil crisis with many effects on global politics and economy.
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