OPEC+ concerned about US oil output surge under Trump: Report
18/12/2024
Argaam
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The OPEC+ alliance expressed concern over a potential increase in the US oil production during the second term of president-elect Donald Trump, according to Reuters.
Representatives of the alliance told the agency that a resurgence in the US oil output under Trump would come at the expense of its market share and undermine the efforts of oil-exporting countries to support prices.
A representative from one of the US allies within OPEC+ explained that while Trump's return to the White House is seen as positive for the oil sector due to the likelihood of less stringent environmental policies, the rise in the US production is not in the best interest of the alliance.
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