Oil Theft Is on the Rise in the Heart of U.S. Shale Country—and It’s Mostly Carried Out in Targeted, Organized Heists

Oil theft is on the rise in the heart of U.S. shale country—and it's mostly carried out in targeted, organized heists

According to a Dallas Fed survey, 32% of executives who were impacted by oil theft said it had increased slightly over the last 12 months.

Permian Oil Executives Cite Organized Theft as Most Common Form

Nearly half of companies focused primarily on the Permian Basin reported oil-field theft, while 84% of affected executives said the financial impact was low.

Oil theft is on the rise in the heart of U.S. shale country—and it’s mostly carried out in targeted, organized heists

The spike in oil prices since the Iran war began this year has attracted more thieves, and they are increasingly professional criminals. West Texas Intermediate crude is up 60% so far this year, and fuel prices have risen even more as global refining capacity has fallen due to the Mideast and…