T R A G E D A Y . C O M

April 21, 2025

Tragedies

October


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The Oil Crisis

October 20, 1973

On October 20, 1973, the Organization of Arab Petroleum Exporting Countries (OAPEC) announced an oil embargo in response to the U.S. and Western nations support for Israel during the Yom Kippur War. The embargo led to widespread shortages of oil and skyrocketing fuel prices, creating an energy crisis in many countries. Gasoline prices quadrupled, and many nations faced long lines at gas stations. The crisis highlighted the dependence of industrialized nations on Middle Eastern oil and triggered efforts to find alternative energy sources. The event led to economic recessions in many countries and reshaped global energy policy.


Where Did It Happen?