Oil Crisis and OPEC Negotiations

Oil Crisis and OPEC Negotiations

Assessment

Interactive Video

History

10th - 12th Grade

Hard

Created by

Patricia Brown

FREE Resource

In October 1973, oil companies met with OPEC in Vienna to discuss oil prices. However, the meeting was disrupted by the outbreak of war between Egypt and Israel. As a result, OPEC decided to set oil prices independently, leading to severe shortages. The UK government, under Prime Minister Edward Heath, intervened by directing BP to prioritize UK oil supply, despite international obligations. This marked a shift towards government control over national resources.

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5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What event disrupted the initial meeting between oil companies and OPEC in Vienna in 1973?

An economic recession

The outbreak of war between Egypt and Israel

A political coup

A natural disaster

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was the result of the war on the negotiations between oil companies and OPEC?

Oil companies gained more power

Negotiations continued as planned

OPEC took control of oil pricing

The negotiations were postponed indefinitely

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which country's oil remained unaffected and became a key supply source for BP during the shortages?

Saudi Arabia

Iran

Iraq

Kuwait

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What action did British Prime Minister Edward Heath take in response to the oil crisis?

He increased oil imports from the US

He decided to exert control over BP's oil distribution

He reduced oil prices

He nationalized all oil companies in the UK

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was the potential consequence of the UK's directive to prioritize domestic oil supply?

Nationalization of BP's European companies

A decrease in oil prices

Increased oil imports from Europe

An increase in oil production