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Current location:HOME>> News>> Industry News>> Trump is reviving the US oil industry
Trump is reviving the US oil industry
AUTHOR:admin PUBLISHED:2016-11-22 CLICK:正在读取

The United States oil service company Baker Hughes in November 18th released data which shows that as of November 18, 2016 week American petroleum drilling active to increase the number of 19 to 471, for the biggest weekly increase since July 2015, to return to a 9 month high in the past 25 weeks and 22 weeks was recorded on the rise, which means that the rebound in oil prices and the election of Trump the United States has inspired the confidence of shale oil production.

Trump, oil price, oil industry

Since Trump was elected, the market has been expected he will revive the US oil industry, through the approval of more mining activities and even banning imports of crude oil to maintain the independence of the United States energy, which have helped increase U.S. crude oil production.


Oil prices this year, in June, May and October were returned to $50 / barrel, market analysts believe that will lead to the return of energy companies.


Ryan Lance (ConocoPhillips) chief executive officer, said: "we finally see a glimmer of dawn, we will begin to re-investment funds, but will remain cautious." The current average price of crude oil futures in 2017 was $49 / barrel, in 2018 the average price of $51 / barrel. And Baker Hughes data shows that in 2017 the total number of active drilling of oil and natural gas is expected to be 634, in 2018 is expected to be 732, and this year is expected to be 514.

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