Oil Glut Set to Thwart Trump's Call to ‘Frack, Frack, Frack' [Yahoo! Finance Canada]
Diamondback Energy, Inc. (FANG)
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Source: Yahoo! Finance Canada
In This Article (Bloomberg) -- President-elect Donald Trump's vows to “frack, frack, frack” are about to collide with a global crude glut that's set to, finally, temper record shale production. Most Read from Bloomberg Trump has said he'll push America's shale companies to ramp up output – telling supporters pump prices would fall even if it meant producers “drill themselves out of business” — but his second term follows two straight years of record US output. Against that backdrop, analysts and traders surveyed by Bloomberg see the US adding just 251,000 barrels a day from the end of this year through 2025, the slowest pace since the pandemic-driven drop in 2020. There are few levers Trump can pull to change that. Opening new federal lands to exploration would take time and some of his other proposals – such as a trade war with China – are widely seen as bearish for oil because they would erode demand for the commodity. “There's a delay between freeing up federal lands, of
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- Diamondback Energy, Inc. (NASDAQ: FANG) had its price target raised by analysts at Raymond James from $232.00 to $237.00. They now have a "strong-buy" rating on the stock.MarketBeat
- Oil Glut Set to Thwart Trump's Call to ‘Frack, Frack, Frack' [Yahoo! Finance]Yahoo! Finance
- Oklo reactor pipeline swells to 2.1 GW as demonstration project advances [Yahoo! Finance]Yahoo! Finance
- Why Diamondback Energy's (NASDAQ:FANG) Healthy Earnings Aren't As Good As They Seem [Yahoo! Finance]Yahoo! Finance
FANG
Earnings
- 11/4/24 - Miss
FANG
Sec Filings
- 11/18/24 - Form 4
- 11/14/24 - Form 4
- 11/13/24 - Form 144
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