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November 1973: Saudi Arabia leads an oil boycott against the U.S. and other Western countries.
A supporter of Egypt, Jordan, and Syria in the 1967 Six-Day War against Israel, Saudi Arabia still harbors resentment when the Yom Kippur War (October War) erupts. In retaliation for U.S. support of Israel, Saudi Arabia participates in a 1973 Arab oil boycott of the U.S. and other Western nations. The price of oil quadruples, dramatically increasing Saudi Arabia's wealth and political influence.
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