The OPEC+representative expressed concern that the upcoming relaxation of regulations in the US energy industry may boost US oil production, exceeding expectations under the incoming Trump administration.

More US oil supply may further erode OPEC+'s market share and suppress oil prices, while OPEC and its allies are desperately trying to support oil prices by reducing production.

President elect Trump's return to the White House may mean that environmental policies in the industry are no longer as strict. A representative from OPEC+oil producing countries, a US ally, said, "But we may see an increase in US production, which is not good for us

Although the US oil industry has stated that there will be no large-scale supply surge, Trump's friendly policies towards the industry may boost production beyond previously expected levels.

The Trump team is preparing for a comprehensive reform of the US energy industry on the first day of his presidency. Increasing oil and gas drilling in the United States, accelerating domestic energy infrastructure, and licensing liquefied natural gas exports are expected to be the top priorities of the new government.

The growth of shale oil production in the United States has slowed down and may never reach the annual increase of 1 million barrels per day again like before the pandemic, as companies are now more focused on increasing shareholder returns rather than production growth.

All forecasters and analysts indicate that US crude oil production will continue to grow, surpassing 2024 by 2025. But under Trump's leadership, the possibility of 'drilling, baby, drilling' is unlikely. This sentence belongs not to anyone else, but to ExxonMobil.

However, the incoming government may affect the balance of the global oil market and thus impact OPEC+'s future production policies. For example, by enforcing US sanctions more strictly and putting pressure on Iran and Venezuela, it may reduce their oil supply. This may open the door for Saudi Arabia and other OPEC+oil producing countries to prove that increasing their supply is reasonable.