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 Russia-Ukraine wars. While oil theft has long been a part of the industry, the problem has become prevalent enough for the Dallas Fed to ask about in its quarterly surveys.

Source: Fortune Crypto