Economic instability is perhaps the category that engulfs most states with oil-dependent economies, including economic giants like Russia. The collapse of these producers is particularly evident when considering the current and escalating decline in global oil prices of more than 50% over the past six months. The increased domestic supply of oil in North America, which made the United States less dependent on oil imports, undermined the influence of exporting countries, especially the influence that the once-powerful OPEC tycoons possessed on international trade. These countries can no longer submit to an embargo as in 1973, since they must struggle with enormous deficits to meet the basic needs of their citizens.