The sanctioning of two OPEC members by the Trump administration has caused some ripples in the oil market, but not the type of shortages or pain for consumers that might have occurred.
One big reason is that U.S. production continues to grow, and for the barrels lost, more are coming on line. U.S. output is now at 12.1 million barrels a day, up more than 1 million from this time last year, and IHS Markit expects it to be 13 million by the end of the year.
That has given the United States more muscle and flexibility when it comes to sanctions.
