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The Saudi Oil Crisis of 1973

The Israeli were already in conflict with Syria and Egypt in 1973. The conflict was marked by the attacks on the Israeli territories initiated by Egypt and Syria. The United States governments started favoring Israeli military by supplying them with military equipments during the so called Yom Kippur war. The Oil crisis started in 1973 essentially because of the involvement of the United States in the conflict. It is fundamental to note that the United States was seen to be supporting the Israeli side in the conflict. During the crisis, members of the organization of Arab Oil Producing countries OAPEC imposed an oil embargo on the United states for its decision to re-supply the Israeli military in the course of their military activity in the Yom Kippur war. The embargo had serious implications to the United States economy with increased prices of oil as a result of the disrupted supply of oil. The situation went on and with recession there were also serious consequences with the widening rift in NATO. Cleveland&Bunton (2009).

With the embargo in place, the Middle East countries demonstrated full control of oil production and this was seen as a weapon to prevent the domination of world powers like the United States and Japan in their affairs. The rise in oil prices have been linked to the recession that was witnessed in the United States. The involvement of the Soviet Union in the conflict was significant in the sense that it was an indicator of its rising status to one of the world’s super powers. However the embargo came to a halt in 1974 after negotiations were undertaken.

In conclusion it is important to mention that the Saudi Oil crisis of 1973 was a show of unity amongst the Middle East countries in as far as the control of world oil prices is concerned.

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