HOUSTON — The Trump administration has not received any pushback on its calls to ramp up oil production amid the war in Iran, one of President Donald Trump’s top energy advisers said Monday.
“They’re all on board,” Jarrod Agen, the executive director of the White House National Energy Dominance Council, said at the POLITICO Pub at CERAWeek. “They want to increase production.”
The Trump administration has called on oil companies to turn up their production in response to the surge in prices since it launched its war in Iran. But many companies have said privately that they are loath to invest in potentially unprofitable new wells amid the market chaos brought by the war.
Oil prices opened Monday at $98 per barrel before dropping to $88 after President Donald Trump said the United States would pause “any and all military strikes against Iranian power plants and energy infrastructure” for five days as the U.S. and Iran engage in diplomatic negotiations.
