The G7 is releasing 100 million barrels of oil and refined fuel products as soaring diesel and crude prices put pressure on economies around the world. Gareth Edwards and Francis Herd unpack why such a huge intervention has made surprisingly little difference to the market, and why the amount being released matters only when measured against the scale of supply already lost.
For South Africans, the consequences are immediate. With global oil prices elevated, the rand under pressure and local petrol and diesel prices heading sharply higher, the episode asks whether emergency reserves can offer any meaningful relief at the pump, or whether consumers will simply have to absorb the pain for longer.
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Chapter List
(00:00) Why the G7 is releasing 100 million barrels
(02:09) 100 million in, 840 million out
(04:31) 7.8 billion barrels — So why is supply still tight?
(04:56) Will South Africans get fuel-price relief?
