Reported 3 days ago
Energy Secretary Chris Wright's former company, Liberty Energy Inc., has experienced a dramatic 43% decline this year, raising concerns about the state of US oil production amidst promises of 'energy dominance' from the Trump administration. This downturn signals potential cutbacks in drilling and fracking activities, as service companies face reduced spending. Current market conditions indicate that US shale producers may refrain from increasing output due to oversupply and low prices, with analysts predicting a decline in overall oil production if these trends continue.
Source: YAHOO