What were the effects of the arab opec oil embargo on the united states?

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18-04-2017
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What were the effects of the arab opec oil embargo on the united states?

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KingOfShadows KingOfShadows · Answer 1 · 2017-04-18T14:08:05+02:00

KingOfShadows KingOfShadows

18-04-2017

The effects of the embargo were immediate. OPEC forced oil companies to increase payments drastically. The price of oil quadrupled by 1974 to nearly US$12 per barrel (75 US$/m3)

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wyatt77jones wyatt77jones · Answer 2 · 2021-11-11T17:40:59+01:00

wyatt77jones wyatt77jones

11-11-2021

Answer:

The United States faced a severe oil shortage.

The price of oil rose dramatically.

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