[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
An innovative rehabilitation programme offers Danish fighters in Syria an escape route and help without prosecution.
Street tension between radical Muslims and Holland's hard right rises, as Islamic State anxiety grows.
Take an immersive look at the challenges facing the war-torn country as US troops begin their withdrawal.
Ministers and MPs caught on camera sleeping through important speeches have sparked criticism that they are not working.
Featured
Anti-government secrecy organisation struggling for relevance without Julian Assange at the helm.
After decades of overfishing, Japan is taking aim at increasing the number of bluefin tuna in the ocean.
Chinese scientists are designing a particle-smashing collider so massive it could encircle a city.
Critics say the government is going full-steam ahead on economic recovery at the expense of human rights.
Spirits are high in Scotland's 'Whisky Capital of the World' with one distillery thirsty for independence.