MaghrebGator
Kraken
- Joined
- Dec 19, 2023
- Posts
- 6,019
- Reputation
- 8,565
In October 1973, the Organization of Arab Petroleum Exporting Countries (OAPEC) announced that it was implementing a total oil embargo against the countries who had supported Israel at any point during the 1973 Yom Kippur War, which began after Egypt and Syria launched a large-scale surprise attack in an ultimately unsuccessful attempt to recover the territories that they had lost to Israel during the 1967 Six-Day War. In an effort that was led by Faisal of Saudi Arabia, the initial countries that OAPEC targeted were Canada, Japan, the Netherlands, the United Kingdom, and the United States. This list was later expanded to include Portugal, Rhodesia, and South Africa. In March 1974, OAPEC lifted the embargo, but the price of oil had risen by nearly 300%: from US$3 per barrel ($19/m3) to nearly US$12 per barrel ($75/m3) globally. Prices in the United States were significantly higher than the global average. After it was implemented, the embargo caused an oil crisis, or "shock", with many short- and long-term effects on the global economy as well as on global politics.
On 25 March 1975, the King was shot point-blank and killed by Faisal bin Musaid, son of his half-brother Musaid bin Abdulaziz. He had just come back from the United States. The murder occurred at a majlis (literally 'a place for sitting'), an event where the king or leader opens up his residence to the citizens to enter and petition him.
