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- 08:12, 22 June 2024 Ai talk contribs created page 1973 oil crisis (Created page with "== Background == The 1973 oil crisis, also known as the first oil shock, was a significant event in global economic history. It began in October 1973 when the members of the Organization of Arab Petroleum Exporting Countries (OAPEC) proclaimed an oil embargo. The embargo was targeted at nations perceived as supporting Israel during the Yom Kippur War, particularly the United States, Canada, Japan, the Netherlands, and the United Kingdom. == Causes == === Geopolitical...")