The 1973 Oil Crisis
In October 1973, an Arab oil embargo caused world oil prices to rocket
Witness History: Archive 2014 · BBC World Service
October 30, 20149m 2s
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Show Notes
In October 1973 Arab nations slashed oil production in protest at American support for Israel during it's war against Egypt and Syria. Oil prices sky-rocketed. We hear from former deputy secretary general of OPEC, Dr Fadhil Chalabi, about the struggle for control of oil in the early 1970s.
(Photo: An American car displays a 'No Gas' sign during the 1973-74 oil crisis)