Full tank of petrol for typical family car hits £100

The video discusses the impact of the Ukraine war on global oil supply, highlighting how Russian exports have been disrupted, leading to increased demand and higher prices. It also covers pre-existing issues in the oil market that began with the pandemic, when major oil producers, including OPEC and Russia, reduced production by 10% due to decreased demand. However, the global economy rebounded faster than expected, causing demand to outpace production.

What impact has the war in Ukraine had on global oil supply?

How has the disruption of Russian oil exports affected global oil prices?

What were the reasons behind the OPEC Plus nations cutting oil production?

How did the global economy's rebound affect oil production in the last two years?

What challenges did oil production face as demand accelerated over the past two years?