The reserves were set up in the wake of the Arab oil embargo of 1973 to blunt the effects of severe supply shocks.

石油储备是在1973年阿拉伯石油禁运事件之后设立的，用于削弱急剧石油供应震动所带来的影响。

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The last time New York saw such severe restrictions was during the 1970s Arab oil embargo.

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And Britain has played a leading role in helping to deliver an EU-wide oil embargo.

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In the Arab oil embargo in 1973 prices more than doubled in three months.

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