With Donald Trump set to enter the White House and OPEC having agreed to production cuts, analysts are focused on how the global oil industry and prices will be impacted in 2017. The new U.S. President-elect and his cabinet, along with their pro-drilling policies, are increasing hopes of a bright future for the U.S. oil industry, but it remains to be seen whether these hopes will translate into any practical outcomes. The most important of Trump’s energy appointments, it would seem, is the ex-CEO of ExxonMobil Rex Tillerson as Secretary of State. This and the recent deal struck in Vienna among the OPEC and NOPEC producers has caused global oil markets to rally. The benchmark Brent crude price has crossed the $55 mark and WTI is not far behind. Analysts are predicting that Trump’s team − unlike the outgoing Obama administration − will approve many of the halted North […]

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