Exploration & Production

Price dip from Trump poll victory likely to be short-lived

It is ironic that Donald Trump’s victory in the US presidential election should have revived talk of $20 per barrel oil. Wasn’t he supposed to revive the fortunes of fossil fuel companies? It is ironic that Donald Trump’s victory in the US presidential election should have revived talk of $20 per barrel oil. Wasn’t he supposed to revive the fortunes of fossil fuel companies?
By Peter Stewart 17 November 2016 0 24324
Trump's protectionist stance could depress global oil and gas demand during his presidential term. (PA)

Donald Trump’s ‘America First’ energy plan was long on words and short on detail, so no-one knows at this stage exactly how his broad policy goals will be put into place, but the oil market reacted decisively to his victory. US benchmark WTI futures nose-dived on the perception that Trump’s trade policies would lead to more protectionism and that his pro-fracking stance would result in higher oil production in the United States.

Before becoming president-elect, Trump promised to rescind executive decisions taken by outgoing president Barack...