Shale Bosses Lament Iran War ‘Chaos’ Engulfing Oil Market
Pump jacks and wells in an oil field on the Monterey Shale formation near McKittrick, California.
Photographer: David McNew/Getty ImagesDespite higher oil prices, US shale executives are complaining that the market volatility arising from the conflict in the Middle East isn’t making their job any easier.
In a series of anonymous comments published Thursday from a report released by the Federal Reserve Bank of Dallas, energy executives cited chronic uncertainty over the outcome of the war and its effect on supply and demand. Some of the people, who were respondents in a survey carried out by the bank, criticized what they characterized as the inability of President Donald Trump to explain the rationale behind the conflict.