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Arab Oil Embargo #30578

ABC Evening News for Monday, Mar 18, 1974
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(Studio) Arab oil-producing nations officially announce decision with regard to oil embargo lift. 7 of 9 Arab nations agree to end boycott against United States; Saudi Arabia's oil minister Ahmed Yamani says embargo to be lifted Tuesday
REPORTER: Howard K. Smith

(Vienna, Austria) Questioned about conditions. [YAMANI - insists no stipulations come with embargo lift.] Asked about dissenting Arab cntrys. [YAMANI reports Syria and Libya refuse to accept terms for embargo lift.] [Libyan oil minister Sheik Izzidin al-MABARUK - says Libya and Syria don't agree to lift embargo or increase production.] Arab oil-producing cntrys. to meet again in 2 1/2 mos. to review today's decision.

(Studio) White House awaits formal notification of embargo lift before commenting. American Petroleum Institute admits embargo lift is good news, but cautions against abandoning energy conservation program. Auto industry reacts to embargo lift.
REPORTER: Howard K. Smith

Davis, Lou;
Smith, Howard K.

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