The price of oil has almost always held sway over macroeconomic and geopolitical trends. The most prominent examples of this were the two separate oil crises that occurred during the 1970s, when turmoil in the Middle East led to supply shocks and price spikes.
The price of oil has almost always held sway over macroeconomic and geopolitical trends. The most prominent examples of this were the two separate oil crises that occurred during the 1970s, when turmoil in the Middle East led to supply shocks and price spikes.
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