Oil price changes have different effects on countries that export and import oil. When oil prices go up, oil exporting countries benefit in their oil trade balance but suffer in their non-oil trade balance. On the other hand, oil importers are shielded from positive oil shocks but are negatively impacted by oil price declines. For oil importers, stable oil prices are better than price declines. These findings show that oil price changes have significant impacts on trade balances and macroeconomic conditions, highlighting the importance of understanding and responding to these changes.