Question

How did the oil embargo end up hurting OPEC? Can be multiple answers.

Answer 1

The correct answer are C) Countries traded with other oil-producing nations, and D) Nations stopped building automobiles for a while.

The OPEC oil embargo completely stopped the exports of oil to the United States. The decision was taken by the 12 members of OPEC on October 19, 1973, in retaliation for the U.S. decision to re-supply the Army of Israel. What happened then was that oil prices quadrupled in the subsequent months. The embargo ended in March 1974.

After the embargo, the United States set in motion measures to conserve and develop domestic energy sources. The government created the Strategic Petroleum Reserve and limited the speed in highways to 55-miles-per-hour.

Answer 2

Answer:

• Countries traded with other oil-producing nations.  
• Nations stopped building automobiles for awhile.

Explanation:

The Organization of the Petroleum Exporting Countries (OPEC) actualizes what it calls "oil tact" on this day in 1973: It restricts any country that had upheld Israel in its "Yom Kippur War" with Egypt, Syria and Jordan from purchasing any of the oil it sells. The resulting vitality emergency denoted the finish of the time of shabby gas and caused the offer estimation of the New York Stock Exchange to drop by $97 billion. This, thusly, introduced one of the most exceedingly terrible retreats the United States had ever seen.  

After the ban, the United States get under way measures to preserve and create household vitality sources. The legislature made the Strategic Petroleum Reserve and constrained the speed in thruways to 55-miles-per-hour.