221k views
4 votes
How was the oil crisis resolved?

1 Answer

4 votes

Answer:

The embargo ceased US oil imports from participating OAPEC nations

Step-by-step explanation:

began a series of production cuts that altered the world price of oil. These cuts nearly quadrupled the price of oil from $2.90 a barrel before the embargo to $11.65 a barrel in January 1974.

User Wimpey
by
4.6k points