Reported about 4 hours ago
Despite President-Elect Donald Trump's calls to increase oil drilling, Exxon Mobil's Upstream President Liam Mallon suggests that U.S. oil and gas producers will not significantly boost output in the coming years, citing a focus on economic factors. While Trump may prioritize drilling on federal lands, much of Texas, a major producing state, is private. Both Exxon and TotalEnergies express skepticism about the feasibility of a major production increase, with producers more inclined to return cash to shareholders rather than ramp up drilling.
Source: YAHOO