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Oil crisis - Quiz
  • 1. What was the Abadan Crisis of 1951–1954 also known as?
A) Iran Oil Crisis
B) The First Global Shock
C) The Middle East Embargo
D) The Great Pipeline Dispute
  • 2. By what percentage did oil prices increase during the 1973 oil crisis?
A) 100%
B) 50%
C) 400%
D) 200%
  • 3. What percentage did oil prices increase during the 1979 oil crisis?
A) 50%
B) 400%
C) 100%
D) 25%
  • 4. How long did the price increases last during the 1990 oil price shock?
A) Three months
B) Six months
C) Nine months
D) One year
  • 5. What occurred during the 2020 Russia–Saudi Arabia oil price war?
A) Prices increased by 100%
B) Prices declined more than 50%
C) Production stopped completely
D) Prices increased by 400%
  • 6. What was the primary driver of the 2022–2023 Russia–European Union gas dispute?
A) The nationalization of Iranian oil
B) A blockade of the Strait of Hormuz
C) A global surplus of natural gas
D) Russia's invasion of Ukraine
  • 7. What led to the oil price increase in the 2026 Strait of Hormuz crisis?
A) Iran's closure of a shipping lane
B) A sudden spike in consumer demand
C) The collapse of global oil refineries
D) The peak oil phenomenon
  • 8. What is the definition of peak oil?
A) The moment oil prices reach their highest historical point
B) A hypothetical time when oil production enters permanent decline
C) The total depletion of all known oil reserves
D) A sudden increase in oil production by OPEC
  • 9. Which of the following events occurred in 1990?
A) The first worldwide oil crisis
B) The mini oil-shock
C) The Russia-Saudi price war
D) The Iran Oil Crisis
  • 10. What specific action did EU member states take during the 2022–2023 dispute?
A) Nationalized all foreign-owned oil rigs
B) Sought to exclude Russian natural gas imports
C) Invaded the Strait of Hormuz
D) Increased oil production by 50%
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