1973 oil crisis - The crisis eased when the embargo was lifted in March 1974
Time: Mar, 1974
Place: U.S.
Details: The crisis eased when the embargo was lifted in March 1974 after negotiations at the Washington Oil Summit, but the effects lingered throughout the 1970s. The dollar price of energy increased again the following year, amid the weakening competitive position of the dollar in world markets.
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