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US Companies to Increase Oil Production Amid Iran Conflict, Interior Secretary Burgum Says

Business & Policy
March 12, 2026

(Reuters) – U.S. Interior Secretary Doug Burgum said on Wednesday that U.S. oil companies will soon announce increased production amid price spikes due to the ongoing Iran conflict.

“I think you’re going to see them all announcing that they’ve increased production, you know, here in the United States in response to the price signals and in response to the need that we have right now,” Burgum told CNBC during an interview.

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Reporting by Jasper Ward in Washington; Editing by Chris Reese