OPEC is concerned that deregulation in the US energy sector under President-elect Donald Trump could lead to higher-than-expected US oil production. This could further erode OPEC's market share and put downward pressure on oil prices, which the cartel is currently trying to support through production cuts. While the US industry doesn't anticipate a major surge in production, Trump's pro-energy policies could still stimulate output levels.
The OPEC group is wary that coming deregulation in the U.S. energy sector could boost U.S. oil production higher than forecast under incoming President Donald Trump , OPEC delegates have told Reuters. More U.S. oil supply could further erode OPEC 's market share and weigh down on oil prices , which the OPEC cartel and its allies are desperately trying to support with production cuts.
oil and gas drilling and accelerating permits for domestic energy infrastructure and LNG exports are expected to be top priorities for the new administration. U.S. shale output growth has slowed and may never hit a 1 million barrels per day bpd annual increase again, as it did before Covid, as companies are now more focused on growing shareholder returns than growing production. U.S. crude oil production continues to rise and will rise in 2025 over 2024, too, all forecasters and analysts say.
OPEC US Oil Production Energy Deregulation Donald Trump Oil Prices
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