The Saudi government gains direct ownership of…

1973 CE

The Saudi government gains direct ownership of one-quarter of Aramco's crude oil operations in 1973.

Sa'udi Arabia’s King Faysal, the leader of the largest conservative Arab state, continues to warn against the danger of communist influence in Arab and Muslim countries.

The Saudis favor the United States in the Cold War with the Soviet Union, but they oppose American support of Israel.

However, US assistance to Israel during the Arab-Israeli War of 1973 causes Saudi Arabia to act against the United States.

When the Saudis and other Arab oil producers organize a short-lived oil boycott, the price of oil quadruples.

Locations
Riyadh > Ar-Riyad Ar-Riyad Saudi Arabia View →

People
Faisal of Saudi Arabia View →

Groups
United States of America (US, USA) (Washington DC) View → Union of Soviet Socialist Republics (USSR), or Soviet Union View → Saudi Arabia, Kingdom of View → Arabian-American Oil Company (Aramco) View → Israel View → OPEC (Organization of the Petroleum Exporting Countries) View →

Subjects
Products View →

Regions

Subregions

Related Events

Active Filters
Location: Rhegium > Reggio di Calabria Calabria Italy
Refine Results

No related events match the current filters.