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in 1973 the organization of petroleum exporting countries (OPEC) decided to increase their prices drastically and placed an embargo on sales to the united states. what was the result of this?



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Gibbs
The result of the OPEC oil embargo of 1973 had a dramatic impact on global energy markets and specifically the United States. The embargo caused major problems in supply and also dramatically increased the price of oil. This led to a major stock market crash and general economic crisis and decline. 

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