Why was a severe downturn in oil prices during the early '80s detrimental to the Soviet economy? It was an oil-exporting nation. It did not have enough oil to survive. It lost an important bargaining chip. It was an oil-importing nation.

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Rebecca Schmitt

History

6 November, 22:19

Why was a severe downturn in oil prices during the early '80s detrimental to the Soviet economy? It was an oil-exporting nation. It did not have enough oil to survive. It lost an important bargaining chip. It was an oil-importing nation.

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Answers (1)

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Marco Cobb · Answer 1

It was an oil-exporting nation.

Explanation:

During the 1980s, the Soviet Union saw a severe downturn in oil prices. This, in turn, led to a decrease in production. Between 1988 and 1995, the oil production of the nation dropped by almost 50%. During this time period, oil was one of the main exports of the Soviet Union, which meant that these fluctuations in price greatly damaged its economy. Moreover, the damage to the economy weakened the nation, allowing for the change of regime to take place.