USA HISTORY

Detailed explanation-1: -The crisis was the result of Arab oil-producing countries, known as the Organization of the Petroleum Exporting Countries (OPEC), refusing to sell crude to the U.S. Arab oil-producing countries launched the embargo in response to U.S. support of Israel during the 1973 Yom Kippur War.

Detailed explanation-2: -The impact hit American consumers in their wallets as retail prices for gasoline soared by 40 percent in November 1973 alone. Fearful of shortages of gasoline, Americans lined up at the pump to refuel while gas stations raised their prices several times per day.

Detailed explanation-3: -During the 1973 Arab-Israeli War, Arab members of the Organization of Petroleum Exporting Countries (OPEC) imposed an embargo against the United States in retaliation for the U.S. decision to re-supply the Israeli military and to gain leverage in the post-war peace negotiations.

Detailed explanation-4: -The 1973 oil crisis or first oil crisis began in October 1973 when the members of the Organization of Arab Petroleum Exporting Countries (OAPEC), led by King Faisal of Saudi Arabia, proclaimed an oil embargo. The embargo was targeted at nations that had supported Israel during the Yom Kippur War.

Detailed explanation-5: -Arab oil producers cut off exports to the U.S. to protest American military support for Israel in its 1973 war with Egypt and Syria. This brought soaring gas prices and long lines at filling stations, and it contributed to a major economic downturn in the U.S.