1973 oil crisis
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jwalsh
What events led up to the 1973 oil crisis?
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edimonk
Replied to:  What events led up to the 1973 oil crisis?
OPEC was formed in September 1960. It was made up of thirteen countries including Iran, Ecuador, and Nigeria, and its purpose was to withstand oil powers who pushing for lower prices.
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JSDonald
Replied to:  OPEC was formed in September 1960. It was made up...
In 1971 the US took itself off the Gold Exchange Standard. As a result, the US dollar was depreciated.
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