RUSSIA'S invasion of Ukraine earlier this year was particularly felt by the rest of the world via skyrocketing energy prices. An end to the hurting isn't in sight with the conflict yet to be resolved and the global supply situation still muddled.

Western nations responded to Russia's aggression with curbs on the country's energy exports. Hopes that other producers would take up the slack failed to materialize, however, with the Organization of the Petroleum Exporting Countries in particular implementing oil production cuts.