Occidental (OXY) CEO says US likely has capacity to make up oil shortfall caused by Iran war, sees peak US oil supply at about 15mln bpd; sees peak US oil supply in range of 2027-2031.
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Occidental (OXY) CEO says US likely has capacity to make up oil shortfall caused by Iran war, sees peak US oil supply at about 15mln bpd; sees peak US oil supply in range of 2027-2031.
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US President Trump reiterates the US and Iran had preliminary talks over the past few days, had very good discussions with Iran; energy strikes were postponed temporarily; this time, Iran means business, they want to settle, we will get it done "i hope"
On the Newsquawk feed at , 20 minutes before this page.
Context
The CEO's comments suggest confidence in the U.S. oil sector's ability to compensate for disruptions from potential conflicts, such as a war with Iran. This likely alleviates immediate supply concerns in the market and may stabilize oil prices, impacting commodities and energy equities positively. However, the forecast of peak U.S. oil supply could influence strategic investment decisions over the medium term as it highlights the trajectory of domestic production.
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