Trump rules out oil export curbs as Iran war drives prices

Trump administration officials explicitly ruled out restricting US oil exports despite surging global demand from the Iran conflict. Interior Secretary Doug Burgum told American Petroleum Institute executives such measures are not under consideration, contrasting with China's own export bans that are worsening price pressures. The decision reflects lessons from the Biden era, when similar restrictions were considered but rejected after Russia's 2022 invasion. With the Strait of Hormuz handling 140 million barrels daily remaining disrupted, the US is choosing to maintain its role as a reliable supplier rather than pursue short-term domestic relief that could backfire economically and geopolitically.