As oil executives gather for a conference, a new conflict brings uncertainty. President Trump’s war with Iran has disrupted some of the long-term plans of his big oil supporters, who had been working to expand production and profits in various countries, including Venezuela and Europe. However, recent price increases have helped boost their earnings, and they continue to benefit from the surge in crude and natural gas prices.
Source: https://www.bloomberg.com/news/articles/2026-03-22/iran-war-trump-s-big-oil-plan-upended-by-strait-of-hormuz-chaos