API Warns of Energy Security Risks Amid Escalating Global Tensions

The American Petroleum Institute (API) has called for sustained investment in energy supply as global tensions escalate, particularly in the Middle East. The U.S. energy system has played a crucial role in mitigating the impact of supply disruptions from the region.

According to API, record American crude oil production and natural gas production have helped keep crude oil prices in check, despite the ongoing crisis triggered by the Iran war and closure of the Strait of Hormuz. The U.S. energy system has invested billions of dollars annually over the past decades to increase supply.

The API notes that while the U.S. role in global markets has changed significantly since the shale revolution began, with record exports of fuels and crude oil production, the country's inventory levels have slumped below the five-year average for this time of year.