On October 6, 1973, Egypt attacked the Bar-Lev Line in the Sinai Peninsula and Syria launched an offensive in the Golan Heights, both of which had been occupied by Israel during the 1967 War.
Iraq nationalizes Exxon and Mobil shares in Basrah Petroleum Company representing 23.75 percent equity in the company.
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.
Wailers released the album Burnin' which included the song "I Shot the Sheriff". Eric Clapton was given the album by his guitarist George Terry in the hope that he would enjoy it. Clapton was suitably impressed and chose to record a cover version of "I Shot the Sheriff".
On October 12, 1973, US president Richard Nixon authorized Operation Nickel Grass, a strategic airlift to deliver weapons and supplies to Israel in order to replace its materiel losses, after the Soviet Union began sending arms to Syria and Egypt.
On October 17, Arab oil producers cut production by 5% and instituted an oil embargo against Israel's allies: the United States, the Netherlands, Rhodesia, South Africa, and Portugal.
OPEC oil ministers agree to use the oil weapon in the Arab-Israeli War, mandate cut in exports, and recommend embargo against unfriendly states.
Saudi Arabia, Libya, and other Arab states proclaim an embargo on oil exports to the United States.
On October 6, 1973, Egypt attacked the Bar-Lev Line in the Sinai Peninsula and Syria launched an offensive in the Golan Heights, both of which had been occupied by Israel during the 1967 War.
Iraq nationalizes Exxon and Mobil shares in Basrah Petroleum Company representing 23.75 percent equity in the company.
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.
Wailers released the album Burnin' which included the song "I Shot the Sheriff". Eric Clapton was given the album by his guitarist George Terry in the hope that he would enjoy it. Clapton was suitably impressed and chose to record a cover version of "I Shot the Sheriff".
On October 12, 1973, US president Richard Nixon authorized Operation Nickel Grass, a strategic airlift to deliver weapons and supplies to Israel in order to replace its materiel losses, after the Soviet Union began sending arms to Syria and Egypt.
On October 17, Arab oil producers cut production by 5% and instituted an oil embargo against Israel's allies: the United States, the Netherlands, Rhodesia, South Africa, and Portugal.
OPEC oil ministers agree to use the oil weapon in the Arab-Israeli War, mandate cut in exports, and recommend embargo against unfriendly states.
Saudi Arabia, Libya, and other Arab states proclaim an embargo on oil exports to the United States.
