Wolves have not made a good start to the season following a summer where they lost several key players without having the funds to properly replace them.
The Midlands side have lost three of their opening four Premier League games and are sitting 15th in the league standings going into the international break.
Warnock pointed out the number of big players Wolves lost this summer and conceded that any team would have struggled if those names walked out of a team at the same time.
However, he believes Wolves manager O’Neil has succeeded in convincing the players to buy into his management and methods despite the poor results as their performances have not been that bad this season.
The former Premier League defender said on the BBC’s Match of the Day 2 programme: “They’ve lost key players – [Joao] Moutinho, [Ruben] Neves, [Adama] Traore, [Raul] Jimenez, [Matheus] Nunes.
“You look at those players, you take them out of any team, they’re going to struggle and they’re going to be down the bottom.
“I think the big thing with Gary O’Neil is that, when you go into a changing room, make training entertaining, make it fun, make it challenging, make the players buy into it straight away.
“I think he has done that and we’re starting to see that in the performances on the pitch.
“They just need a few more goals.”
Wolves will have a tough test at home after the international break when Liverpool will visit Molineux.
