Oil industry sounds the alarm! Wood Mackenzie: Tariffs could cause costs to skyrocket by 15%, and 1.2 million barrels of production capacity is in imminent danger.

According to the Zhtng Cijng APP, it was reported that the latest research report from Wood Mackenzie shows that if the Trump administration fully imposes tariffs, the supply chain costs of oil producers will significantly increase. The agency predicts that tariffs on China and Western allies could increase the cost of onshore oil and gas production in the United States by up to 6%, and offshore production costs may increase by up to 15%.