Energy Leaders Meet in Houston

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global oil flows

Reuters

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Business

Business & Economics

Top oil executives reckon with downturn even as Trump cheers them on

Summary

Nutrition label

74% Informative

The world's energy industry leaders meet in Houston next week as plummeting oil prices push Big Oil to slash thousands of jobs.

U.S. President Donald Trump 's first 47 days in office have been marked by a rapid overhaul of government and policy, including mass layoffs and the reversal of many of the policies of the previous administration.

Trump 's policies on trade and foreign policy have threatened to drive up the cost of millions of barrels of oil.

U.S. oil output is set to grow 380,000 barrels per day this year , much less than the million -bpd growth in recent years .

Producers, on average, are expected to grow 2025 output by 1% with capital expenditure set to fall 4% .

VR Score

Informative language

Neutral language

Article tone

formal

Language

English

Language complexity

Offensive language