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CIA Reading Room cia-rdp75b00380r000100090069-1: EFFECT OF ARAB CUTBACKS AND EMBARGOES

Approved F ?A 2VgAApy2 g5dl~:tC.lAd gIJB00380R000100090069-1 WASHINGTON, D. C. 20301 October 24, 1973 MEMORANDUM FOR Secretary James R. Schlesinger . Secretary William P. Clements, Jr. SUBJECT: Effect of Arab cutbacks and embargoes Saudi Arabia, Algeria, Libya, Abu Dhabi, Bahrain, Qatar, Kuwait, and Dubai have embargoed oil sales to the U. S. as well as to areas that use crude for delivery to the U. S. (offshore refineries). They have also ordered additional production cutbacks across the board. The net result of these acts is a 4 million barrel per day reduction (9%) of the free world supply …