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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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