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Short-term oil price increase, budgetary concerns for military operations in the Middle East, and brief economic slowdowns in some countries.

Quadrupling of oil prices, severe recession in the Western world, and prompted efforts to cut dependence on OPEC oil.

Stagflation in Western economies, shift towards energy conservation and increased interest in renewable energy sources.

Collapse in oil prices due to oversupply, leading to economic hardships in oil-exporting countries but lower energy costs for importers.

Drastic fall in oil prices due to OPEC's loss of pricing power, resulting in economic benefits for consumers but severe revenue loss for producers.

Rising oil prices contributed to the financial crisis of 2007–08, encouraged new energy policies and prompted investment in alternatives.

Doubling of oil prices, contributed to a global recession and high inflation across many economies.

Unprecedented negative oil prices due to lack of demand during lockdowns, massive storage surplus, and the brief pay-to-take-oil situation.

Significant drop in oil prices, beneficial for oil-importing countries and consumers, but led to economic and political strife in oil-exporting nations.