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  • 01-05-2020
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Why did oh PEC increase oil prices in 1973

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s28269082
s28269082 s28269082
  • 01-05-2020

Answer:

"By 1973, OPEC had demanded that foreign oil corporations increase prices and cede greater shares of revenue to their local subsidiaries. The price of oil per barrel first doubled, then quadrupled, imposing skyrocketing costs on consumers and structural challenges to the stability of whole national economies"

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