How does the current global oil crisis compare with the 1973 oil embargo? The 1973 oil embargo removed 4.5 million barrels per day from global supply. Today, that figure stands at 20 million.Share this: US to allow Venezuelan oil sales to Cuba as alarm grows in the CaribbeanDateFebruary 25, 2026In relation toAl-JazeeraIEA announces release of 400 million barrels of oil. But is it enough?DateMarch 13, 2026In relation toAl-JazeeraYemen’s Houthis claim attack on two Saudi oil tankersDateJuly 22, 2026In relation toAl-Jazeera