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The COMPLETE History about 1973 Oil Crisis: OPEC's Embargo and the Global Impact of Stagflation
The 1973 oil crisis was marked by a significant surge in oil prices following an embargo imposed by OPEC (Organization of the Petroleum Exporting Countries) in response to Western support for Israel during the Yom Kippur War. This embargo led to a quadrupling of oil prices, causing widespread economic turmoil and resulting in stagflation—an ...
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