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Commodities

Iran War Fuels Oil Price Surge, Bypassing Iranian Benefits

Guavy AI Editorial Team
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Oil
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The Iran war has sent oil prices soaring above $100 per barrel, creating a multibillion-dollar market that is generating enormous profits for some players.

A report by UrduPoint reveals that US shale producers, Canadian oil sands companies, and some Latin American producers are benefiting from the high oil prices due to their ability to sell their oil at higher rates.

OCCIDENTAL PETROLEUM reported a realized global oil price of approximately $96.78 per barrel in its latest quarter, marking a notable increase from the previous quarter.

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