Nigerian Militants Drive Oil Production to 27-Year Low

The video discusses the significant disruption in oil production in Nigeria, the largest oil producer in Africa, due to militant activities. It highlights the importance of oil as a market benchmark, particularly how the All Country World Index follows WTI. The video also analyzes the technical levels in oil prices, focusing on the $50 mark, and the potential market reactions, including passive money index trackers entering the market and increased hedging by U.S. oil producers.

What role do militants play in the disruption of oil production in Nigeria as described in the text?

What are the two strong forces mentioned that could affect the oil market when the price hits $50?