New Delhi,nov 7
Trump’s win in the US presidential election may shift the global energy outlook in response to anticipated policies says a report by Angel One Wealth.Donald Trump, known for his stance on domestic energy independence, has consistently advocated boosting oil and natural gas production in the U.S., a move likely to put downward pressure on global crude oil prices.According to the report from Angel One Wealth, crude prices could soon see a correction, as Trump is expected to keep prices in check by ramping up domestic production. His emphasis on self-reliance in energy is expected to reduce the U.S. dependency on foreign oil sources, thereby impacting global supply and pricing dynamics.The report said “Donald Trump is likely to keep the crude prices under tight control as a Trump has consistently advocated for increasing domestic energy production”.
The report also highlighted that Trump’s preference for a non-interventionist approach in foreign conflicts could stabilize oil prices by allowing conflicts to deescalate more quickly.However, potential volatility could arise if Trump imposes new sanctions on Iran, a measure that could disrupt oil supplies from the region.Overall, the report suggests that Trump’s influence on the energy sector could lead to lower crude prices, though other external factors will also play a significant role.However, at the time of writing this story Brent Crude prices surged 0.65 per cent to 75.41/ barrel.
In addition to energy, Trump’s policies are expected to be expansionary, meaning higher government spending which could increase the U.S. fiscal deficit and, consequently, its national debt.
