Trump's production report drives Sable Offshore's stock price up by 16%

LootboxPhobia · 2026-03-11T19:35:12+00:00

Sable Offshore stock price rises by 16% as Trump plans to use the Defense Production Act to restart offshore oil production in California, sparking market attention. The move aims to address rising fuel prices and global crude oil supply tightness, marking a significant shift in California's oil policy.

LootboxPhobia

2026-03-11 19:35:12

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Investing.com – Sable Offshore (NYSE:SOC) stock surged 16% and was temporarily halted due to a circuit breaker. Previously, Bloomberg reported that President Donald Trump is preparing to invoke Cold War-era powers to restart oil production off the Southern California coast.

According to reports, Trump plans to use the authority granted by the Defense Production Act to bypass state laws and streamline the permitting process for this Houston-based company’s operations. The company is seeking to restart production at its offshore platform cluster in California. An informed source revealed the plan but requested anonymity because it has not been made public.

As this plan emerges, Trump faces political pressure to address rising fuel prices ahead of the midterm elections in November. The move aims to help alleviate the global crude oil supply tensions caused by his conflict with Iran.

Sable Offshore is seeking to restart large-scale production at California’s offshore platforms, marking a significant shift in the state’s oil production policies.

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