What’s at Stake for Oil Markets as Trump Strikes Iran
A screen grab from a video released on Donald Trump’s Truth Social account shows Donald Trump making statements regarding combat operations on Iran on Feb. 28.
Source: US President Trump Via Truth Social/Anadolu/Getty Images
President Donald Trump’s decision to strike Iran creates new risks for a significant chunk of the world’s oil supply.
The Islamic Republic itself pumps more than 3 million barrels a day, or 3% of global output, making it the fourth-largest producer in OPEC. But the nation wields far greater influence over the world’s energy supplies because of its strategic location.