Bank of America: The economy's resilience to oil shocks has strengthened

ME News message. On April 11 (UTC+8), a Bank of America research note dated April 10 said that since the 1970s, the world economy’s dependence on oil has gradually declined: today, the amount of oil needed to produce the same scale of GDP is only one-third of that in the 1970s. The OPEC crisis and the subsequent oil shocks were once considered a severe stagflation shock. But now, the economy has become more resilient to energy shocks of a similar magnitude. (Jin十) (Source: ODAILY)