There's no danger of that happening now. But it does make the countries that produce oil very powerful. If they produce less, or raise the price of oil, every other country is affected. That's what's happening now. OPEC stands for the Organisation of the Petroleum Exporting Countries.
Petroleum is the oily stuff petrol is made out of.
Most are in the Middle East. There are two in Africa, one in South America, and another, Indonesia, right next to Australia. A while ago OPEC's members decided they weren't getting enough money for their petroleum - the price wasn't high enough. So, they started producing less. It's like this.