U.S. Oil Skipping Chance to Grab Share from the Gulf

“The war with Iran has pulled the American oil industry out of a slump, raising corporate profits and spurring some companies to drill more wells,” the New York Times reports.

“U.S. oil production is now forecast to grow modestly next year, topping 14 million barrels a day for the first time.”

“But the war, paused for now by a preliminary deal, is unlikely to provide enough of a lift for the United States to take significant business from Persian Gulf countries that have been hobbled by the conflict, oil executives and investors said.”