Opec+ fears US oil rise as Trump aims to deregulate energy sector

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Opec+ fears US oil rise as Trump aims to deregulate energy sector - Business Standard

Quick Summary:

Shale producers are focused on their economics, known as capital discipline, and are expected to only increase output if it will be profitable, according to the head of Exxon's upstream division.

A further rise in US output would hinder plans by the Organisation of the Petroleum Exporting Countries and allies such as Russia to start raising output from April 2025 without risking a drop in prices.

Opec+'s output is equal to 48 per cent of world supply, the lowest since it was formed in 2016 with a market share of over 55 per cent, according to Reuters calculations based on International Energy Agency figures.