White House Grows Wary as Oil Industry Keeps Warning of Crisis

Months of warnings that supply disruptions from the Iran war could cause devastating spikes in crude prices have eroded some of the oil industry’s credibility with the White House, just as executives are now cautioning that global inventories are dipping perilously low.

The dynamic has emerged despite the ongoing close relationship between top oil industry leaders and the White House during Donald Trump’s second term as president. As Trump champions US oil production and fossil fuel exports, he’s spoken frequently with industry executives about market conditions and policy moves, according to people familiar with the matter who asked for ...