Why is oil so important to the global economy?

new video uploaded: Why is oil so important to the global economy?

The war in the Middle East has caused oil and gas prices to skyrocket. Our energy reporter, Rebecca F. Elliott, explains how the world continues to rely on reliable sources of oil.

By Rebecca F. Elliott, Sutton Raphael, Joey Sendaydiego, James Surdam and Nikolay Nikolov

March 12, 2026

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