What if the world stops being able to buy oil?

Photo by Mario Caruso on Unsplash

It’s a question that’s been asked more and more frequently in recent years, as the price of crude has fluctuated and the availability of oil has become increasingly strained.

The answer, quite simply, is that it would be a major problem. Oil is the lifeblood of the global economy, and a sudden shortage could bring it to a screeching halt.