US oil production will keep booming in 2024, setting up a possible showdown with Saudi Arabia
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US oil production is expected to keep booming in 2024, possibly hitting a fresh high of 13.3 million barrels a day.
• That comes as Exxon Mobil and Chevron are boosting their capital expenditure budgets for 2024.
• More US supply could put further pressure on Saudi Arabia to regain contol over crude prices.
US oil production is having a blockbuster year, and 2024 could see…
This story from markets.businessinsider.com was posted on 2023-12-09 by @hazelpine.