The past week's sudden surge in oil prices brought to mind the nightmare of shortages, but it's not too likely motorists will be queueing to fill up around the world, analysts say.
All it took was a September 14 strike on key oil infrastructure in
Saudi Arabia to abruptly leave the world's main supplier producing just half its normal amount.
"In essence, the world is far better equipped to handle oil shocks than it was in the '70s," explained Harry Tchilinguirian, the head of commodity research at BNP Paribas.