Gas prices keep rising, but do big oil companies plan to drill more? Not so far

The war in Iran has pushed global oil prices higher, which boosts oil company revenues. But major U.S. oil companies aren't signaling plans to increase production to bring down prices at the pump.

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Gas prices keep rising, but do big oil companies plan to drill more? Not so far

Source: NPR News

An oil drilling rig in the Permian Basin on March 13, 2022, in Midland, Texas.

The war in Iran has pushed global oil prices higher, which boosts oil company revenues. But major U.S. oil companies aren't signaling plans to increase production to bring down prices at the pump.

(Image credit: Joe Raedle)

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