For most U.S. producers, the New Year is starting off on a bright note. Oil exports are allowed. Trump, as the new president, will try to roll back onerous regulations and/or taxes. Commodity prices, oil and gas equities and rig counts have been rising. By now, you've read a lot of commentary about the deal between OPEC and other producers such as Russia to cut oil output beginning this January. This should be what it takes to balance the global supply-demand equation—but it could backfire if high oil prices encourage U.S. producers to drill too much too soon, warns Harold Hamm, CEO of Continental Resources Inc.
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