Which major global event in the 21st century significantly impacted oil prices and consequently influenced the economic leverage of oil-producing nations like Iran and Saudi Arabia?

Quiz Options

• The Global Financial Crisis of 2008
• The COVID-19 pandemic
• The war in Ukraine
• The Dot-com bubble burst

Explanation

The 2008 financial crisis led to a significant drop in global demand for oil, impacting the revenues of major producers and altering the geopolitical economic landscape.