Different countries experience varying economic impacts from oil shocks, depending on the source of the oil price change. When oil prices rise due to global economic activity or oil-specific demand, all countries see temporary changes in GDP. However, the effects of exogenous oil supply shocks differ significantly. Countries that import oil experience a lasting decrease in economic activity, while those that export oil may see no impact or even a positive effect. Countries that have improved their net energy position over time are less affected by oil shocks compared to others.