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 sent oil and gas prices soaring. Our energy reporter Rebecca F. Elliott looks at how much the world remains dependent 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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