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Benzinga

Business

Pooja Rajkumari

Amid Trump's 'Drill Baby, Drill' Pledge, Strategist Predicts US Oil Supply Will See 'Marginal' Increase: 'Does The World Need That Much Oil?'

Donald Trump Oil United States

Amid Donald Trump‘s recent pledge to boost U.S. oil production significantly, questions arise about the necessity and impact of such a move. Vikas Dwivedi, a global energy strategist at Macquarie Group, has expressed skepticism regarding the need for an additional 3 million barrels per day.

What Happened: Dwivedi discussed the potential impact of Trump’s second term on the U.S. oil supply. Talking to CNBC “Squawk Box” on Monday, he said that anticipates only marginal increases in supply, despite Trump’s “Drill Baby Drill” stance.

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