1973 oil crisis - Gulf Six unilaterally raise the posted price of Saudi Light marker crude 17 percent from $3.12 to $3.65 per barrel
Time: Monday Oct 8, 1973
Place: Arabian Peninsula
Details: The Gulf Six (Iran, Iraq, Abu Dhabi, Kuwait, Saudi Arabia, and Qatar) unilaterally raise the posted price of Saudi Light marker crude 17 percent from $3.12 to $3.65 per barrel and announce production cuts.
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