CoinWorld News reports that a research report from U.S. Bank on April 10th pointed out that since the 1970s, the global economy's dependence on oil has gradually decreased: today, the amount of oil needed to produce the same scale of GDP is only one-third of what it was in the 1970s. The OPEC crisis and the subsequent oil shocks were once seen as severe stagflation shocks. But now, the economy is more resilient in facing energy shocks of similar magnitude.