Video: 'The 1973 Oil Crisis' (Oct. 17, 1973, at 2:34)
(Wednesday, October 17, 1973 evening local time; during the 1973 oil crisis and the Yom Kippur War, part of the Arab–Israeli conflict, the Cold War, and the Israeli–Palestinian conflict) — Eleven Arab nations in the Organization of the Petroleum Exporting Countries (OPEC) imposed an oil embargo against countries they deem to have helped Israel in the Yom Kippur War, announcing tonight that they would cut their oil production by five percent every month until Israel agrees to withdraw completely from its occupied territories. Continue reading OPEC retaliates for U.S. support of Israel in Yom Kippur War with oil embargo 50 years ago #OnThisDay #OTD (Oct 17 1973)
