Exxon's exec says U.S. oil production won't surge, despite Trump's promises, due to economic focus.

Exxon's executive Liam Mallon said U.S. oil and gas producers won't significantly boost production despite President-elect Trump's promises, due to a focus on economic discipline. The U.S. is already the world's top oil producer, pumping over 13 million barrels daily. Mallon noted a potential short-term boost from relaxed land permitting but expects growth to be limited. Exxon plans to increase Permian Basin production to over 2 million barrels per day.

November 26, 2024
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