2 years ago

How much did the price of a barrel of oil increase during the embargo?

History

1 answer:

ollegr [7]2 years ago

6 0

Answer:

C. quadrupled

Explanation:

The oil crisis of 1973 which started in October of the same year was caused by an embargo placed by OAPEC who targeted countries they perceived were supporting Israel during the Yom Kippur War.

As a result of this embargo, price of oil quadrupled, from a price of $3 per barrel to almost $12 in 1974.

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