Standard Chartered: American Oil Output Won’t Surge Under Trump

Oil markets witnessed choppy trading in Wednesday’s session, with Brent crude for January delivery plunging before rebounding after Donald Trump defeated Kamala Harris to clinch leadership of the White House. Wall Street has expressed concerns that a second Trump term could negatively impact oil prices, with producers eager to drill and produce more when unencumbered by perceived Biden-era bureaucracy. However, another section of Wall Street is now arguing that this narrative is flawed. According to commodity experts at Standard Chartered,…