The rise in oil prices during the 1970s was due chiefly to a cutback in production by industrialized countries.

Name: The rise in oil prices during the 1970s was due chiefly to a cutback in production by industrialized countries.
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The rise in oil prices during the 1970s was primarily due to oil embargoes and production cutbacks by OPEC (Organization of the Petroleum Exporting Countries), not by industrialized countries.

The Rise in Oil Prices During the 1970s Was Due