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1973 oil crisis

OAPEC petroleum embargoThe price of West Texas Intermediate from 1950 to 2000, adjusted for inflation (1947 prices)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.

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