10 terms

1973 Oil Crisis

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Who?
United States and OPEC (Organization of Petroleum Countries)
What?
They started selling less oil to the US
Supply
The supply was low for the US
Demand
The demand was to high so the price of the oil nearly doubled
Where?
United States
When?
1973
Why?
The US used to much oil so they had to start buying it from OPEC and they wouldn't share the oil that they were making in 1973
Arab
We supported Israel in the Israel War (Arab and Israel)
OPEC
A lot the the OPEC companies are from Arab
Gist
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