The international crude oil market saw a significant drop in prices from 2014 to 2016, leading to debates on whether low oil prices are good or bad for the global economy. Some believe it benefits consumers, while others fear it could cause deflation and economic downturn. The risk is that low prices may discourage spending, leading to excess supply and further price drops. While historically low oil prices have been seen as positive for importing countries, this has not yet translated into widespread economic benefits.