Energy
US Shale Drillers Seen Lifting Crude Output on Hormuz-Driven Price Rally
Pumpjacks operate on the Permian Basin near Crane, Texas.
Photographer: Justin Hamel/BloombergUS shale drillers are expected to follow President Donald Trump’s call for higher oil production — but not just because he said so.
The 72% surge in crude prices since the US and Israel commenced attacks on Iran roughly five weeks ago is incentive enough to compel American oil executives to ramp up output, according to observers as diverse as Citigroup Inc. and Enverus Inc.