The Bottom Line

How the oil industry works


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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

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The Bottom LineBy BBC Radio 4

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