<P> The 1973 oil crisis began in October 1973 when the members of the Organization of Arab Petroleum Exporting Countries proclaimed an oil embargo . The embargo was targeted at nations perceived as supporting Israel during the Yom Kippur War . The initial nations targeted were Canada, Japan, the Netherlands, the United Kingdom and the United States with the embargo also later extended to Portugal, Rhodesia and South Africa . By the end of the embargo in March 1974, the price of oil had risen from US $3 per barrel to nearly $12 globally; US prices were significantly higher . The embargo caused an oil crisis, or "shock", with many short - and long - term effects on global politics and the global economy . It was later called the "first oil shock", followed by the 1979 oil crisis, termed the "second oil shock ." </P> <P> The embargo was a response to American involvement in the 1973 Yom Kippur War . Six days after Egypt and Syria launched a surprise military campaign against Israel, the US supplied Israel with arms . In response to this, the Organization of Arab Petroleum Exporting Countries (OAPEC, consisting of the Arab members of OPEC plus Egypt and Syria) announced an oil embargo against Canada, Japan, the Netherlands, the United Kingdom and the United States . </P>

Why did the middle eastern nations slow oil production in 1973 causing an oil crisis