[QODLink]
Americas

US oil supply weathers Mideast turmoil

Surge in domestic production overcomes fears that Middle East crisis would lead to spike in global oil prices.

Last Modified: 31 Aug 2013 08:46
Email Article
Print Article
Share article
Send Feedback

Political crises in the Middle East had raised fears of an oil price shock around the world.

But so far that has not happened, in large part because the US - which is the world’s biggest oil consumer - increased output from its own wells.

The US President, Barack Obama, said the surge of domestic oil production, together with more fuel-efficient vehicles, was putting energy independence within sight for the country.

Al Jazeera's Tom Ackerman reports from San Antonio in Texas.

83

Source:
Al Jazeera
Email Article
Print Article
Share article
Send Feedback
Topics in this article
People
Country
City
Featured on Al Jazeera
Italy struggles to deal with growing flood of migrants willing to risk their lives to reach the nearest European shores.
Israel's Operation Protective Edge is the third major offensive on the Gaza Strip in six years.
Muslims and Arabs in the US say they face discrimination in many areas of life, 13 years after the 9/11 attacks.
At one UN site alone, approximately four children below the age of five are dying each day.
Featured
Amid vote audit and horse-trading, politicians of all hues agree a compromise is needed to avoid political instability.
Part of the joint accord aimed at ending the political impasse establishes an independent National Election Commission.
Rights groups say the US prosecution of terrorism cases targets Muslims and are fraught with abuses.
Local painters forgo experimentation to cater to growing number of foreign buyers.
Cyprus is a tax haven and has long attracted wealthy Russians, but it could become a European energy hub.
join our mailing list