Commercial decisions, not Trump, will determine US oil production
MSI6 January 20251 Minute
Capacity additions during the Biden administration were the highest for a single-term president.
Although the new Trump administration is likely to reduce regulation around drilling and oil production, US oil output nonetheless already hit record levels in 2024. October saw the figure reach 20.7m b/d—a new high for the monthly average. Read more at Petroleum Economist.