Category: Unclassified: none of its Wikidata classes is on our list
1973 oil crisis
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.
In an effort that was led by Faisal of Saudi Arabia, the initial countries that OAPEC targeted were Canada, Japan, the Netherlands, the United Kingdom, and the United States. This list was later expanded to include Portugal, Rhodesia, and South Africa.
In March 1974, OAPEC lifted the embargo, but the price of oil had risen by nearly 300%: from US$3/barrel to nearly US$12/barrel globally. Prices in the United States were significantly higher than the global average. After it was implemented, the embargo caused an oil crisis, or "shock", with many short- and long-term effects on the global economy as well as on global politics. The 1973 embargo later came to be referred to as the first oil shock. A second oil shock occurred in 1979 in the aftermath of the Iranian Revolution.
Text retrieved 2026-09-26 from Wikipedia.
Cite this
The link is the Wikipedia revision of October 3, 2026 (revision 1378160425), whose lead is exactly the text shown here.
APA 7
1973 oil crisis. (2026, October 3). In Wikipedia. https://en.wikipedia.org/w/index.php?title=1973_oil_crisis&oldid=1378160425
MLA 9
“1973 oil crisis.” Wikipedia: The Free Encyclopedia, Wikimedia Foundation, 3 Oct. 2026, en.wikipedia.org/w/index.php?title=1973_oil_crisis&oldid=1378160425.
Chicago (note)
Wikipedia, “1973 oil crisis,” last modified October 3, 2026, 05:48 (UTC), https://en.wikipedia.org/w/index.php?title=1973_oil_crisis&oldid=1378160425.
Chicago (shortened note)
Wikipedia, “1973 oil crisis.”
Chicago cites well-known reference works such as Wikipedia in notes only, not in the bibliography.
This event on Middle East, 1900–present: https://middleeast.events/event/1973-oil-crisis
If you use the map’s borders: CShapes 2.0 - historical country borders. Schvitz, G., et al. (2022). CC BY-NC-SA 4.0. https://icr.ethz.ch/data/cshapes/ (modified by middleeast.events); West Bank Areas A/B/C: UN OCHA / HDX "Oslo Agreement" Areas A/B/C (West Bank). Distributed under the legacy HumanitarianResponse.info terms: non-commercial use with credit to UN OCHA. https://data.humdata.org/dataset/state-of-palestine-other-0-0-0-0-0; some corrected border points: GeoNames - CC BY 4.0 (https://creativecommons.org/licenses/by/4.0/). https://www.geonames.org/
Approximate location: no coordinates were found for this event, so its marker is placed at the one reference point used for every such event of Saudi Arabia (Riyadh), whatever its date. The marker shows the country, not where the event happened, and says nothing about the status of that city.
Hand-picked event: it is on this project’s own list of events, and its dates and countries were typed by hand for that list, so they can differ from Wikidata’s.
Text from Wikipedia, licensed CC BY-SA 4.0 by Wikipedia contributors, from the article 1973 oil crisis.