OPEC+ wary of renewed US oil output rise under Trump, sources say
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OPEC+ is concerned about a potential increase in U.S. oil production if Donald Trump returns to the White House, as it could reduce OPEC+'s market share and affect their ability to support oil prices.
December 18, 2024 | 6:30 am
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NEGATIVE IMPACT
The United States Brent Oil Fund (BNO) could be impacted by potential changes in U.S. oil production policies under a Trump administration, affecting global oil prices.
If U.S. oil production increases under Trump, it could lead to a decrease in global oil prices, negatively impacting BNO, which tracks Brent oil prices.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70