US oil producers increase output to capture price surge from Iran war
AI Summary
US oil producers have increased output to capitalize on a 40% price surge caused by the war-related global supply crunch. This expansion aims to mitigate the impact on prices which have negatively affected the US president’s approval ratings.
Drilling expansion follows 40 per cent jump in cost from global supply crunch that has dented president’s approval ratings
Politics Markets Commodities Energy US oil producers oil prices supply crunch output increase energy market global conflict