Subsidy uncertain as oil prices surge amid Iran-Israel conflict
2 years ago(FILES) In this file photo pump jacks operate near Loco Hills on April 23, 2020 in Eddy County, New Mexico. - A boost in production agreed on by the world's leading oil producers is "simply not enough" as the global recovery from the coronavirus pandemic sputters, US national security advisor Jake Sullivan said on August 11, 2021. The increases agreed on by OPEC+ (the Organization of the Petroleum Exporting Countries and allies) "will not fully offset previous production cuts that OPEC+ imposed during the pandemic until well into 2022," he said in a statement released by the White House. (Photo by Paul Ratje / AFP)
Petroleum product prices may rise significantly at filling stations in the coming weeks due to an increase in global oil prices following Iran’s recent attack on Israel.
