US shale chiefs warned that Venezuelan oil will hobble US drillers and that the President’s effort to reduce crude prices will hurt the sector struggling to sustain production growth, according to FT

US shale chiefs warned that Venezuelan oil will hobble US drillers and that the President’s effort to reduce crude prices will hurt the sector struggling to sustain production growth, according to FT.

The warning from US shale leaders suggests that an influx of Venezuelan oil could negatively impact domestic production by increasing competition and putting downward pressure on prices. This could hinder profitability and investment in the US shale sector, raising concerns around sustaining production growth, especially as the administration seeks to lower crude prices. The reaction could manifest across energy markets, affecting WTI and Brent prices significantly.