American oil and gas companies are unlikely to seriously increase oil production, as they are more interested in profits than low prices. This was stated by Exxon Mobil spokesman Liam Mallon.
President-elect of the United States donald trump He stated that the United States will dramatically increase production to reduce raw material prices. However, oil and gas companies see it differently.
“We won’t see anyone in ‘storm, baby, storm’ mode.” — Liam Mallon, head of exploration and production at Exxon Mobil, said at the Energy Intelligence Forum conference, Reuters reports.
According to a representative for the oil giant, radical changes in production are unlikely because the vast majority of companies, if not all, focus on the economics of what they do.
“Maintaining discipline, improving quality and disseminating information will naturally limit the growth rate.” Liam Mallon said.
The United States is already the world’s largest oil producer, producing 13 million barrels per day. Donald Trump is taking steps to accelerate the issuance of drilling permits on federal lands and resume preparation of five-year plans for work in the Gulf of Mexico to increase the number of leases issued. Accelerating land permitting could provide near-term production growth, an Exxon Mobil spokesman said.
As reported EADailyDonald Trump’s transition team is preparing a comprehensive energy package. The lifting of numerous restrictions introduced during joe bidenThey are planned immediately after the new US president takes office in January. Experts doubt this will lead to a drop in oil prices.
Leading analyst at FNEB and expert at the Russian Government Financial University Igor Yushkov He noted that current oil production in the United States is at its maximum and rapid growth should not be counted on.
“Trump is associated with the lobby and the oil industry, but his role should not be exaggerated, since it is not the president of the United States who determines the volume of oil production.” – said the expert. He cited as an example that the main increase in the production of raw materials occurred in the US with Obama and Biden.
“Because the price rose and the projects became profitable. For now, the increase in production on federal lands and off the coast of the United States will not be large and will most likely offset the decrease in production due to field depletion. We will not see any progress,” said Igor Yushkov.
