‘Drill, baby, drill’: Trump policy may benefit oil industry but risks oversupply pressures

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Donald Trump Berita

Oil Drilling,Oil Prices,Oil Refiners

NEW YORK, Nov 7 — Donald Trump’s election as US president brings back a champion of the oil industry to the White House, but experts warn that his push for low prices could be...

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“We will have an administration that will work with the US oil and gas industry and not disparage them by calling them war profiteers or price gougers like they were called by Biden,” said Andy Lipow of Lipow Oil Associates. A significant increase in output — already at record highs — risks glutting the market depending on how medium-term demand evolves in places like China, where the economic outlook is uncertain.

“I don’t think the level of production in the US is being constrained by external restrictions,” Woods said. “I think it is being driven by the internal discipline of the industry.”

 

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