How the oil industry works

Available for over a year

What does it take to drill oil out of the ground and then refine it into petrol, jet fuel or other petrochemical products? The world currently uses about a hundred million barrels of oil a day. However, the daily flow has been affected by the closure of the Strait of Hormuz. A fifth of the global supply normally passes through the waterway in tanker ships, but it's been blocked since the end of February 2026. How has the industry adapted? Guests: Nick Bone, Fuels Industry UK Luke Johnson, Director of OPC Edward Hayden-Briffet from Onyx Capital Presenter: Evan Davis Producers: Sally Abrahams & Nick Holland Sound: Dave O'Neill & James Piper Production Coordinator: Katie Morrisson Editor: Sam Bonham