The oil crisis of 1973Starting on 15/9/1975 oil crisis is the consequence of the OAPEC members, includes OPEC oil exports organization and Egypt and Syria, two countries to implement the oil embargo with the United States and the Nations backing Israel in the war with Egypt and Syria.Consequences of the embargo oil is the oil price in the world market were up fivefold from below 20 dollars a barrel to $ 100 a barrel up to 1971 and 1979, average gasoline prices in the U.S. also increased 86% in just one year from 1973-1974. The crisis at the same time adverse impact on financial markets, stocks, which had suffered much pressure after the collapse of the Bretton Woods regime. Us stock markets evaporated 97 billion dollars, the huge amount of money at the time, after only a month and a half. Recession and do play played out rampant u.s. economic influence, and many other countries until the 1980s.
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