What would a second Trump presidency mean for US oil production? 

US oil production hit record levels last year, ultimately growing by over 1 million b/d. However, multips factors will likely slow growth rates over the next few years. Could more volumes be added, though, through policy and regulatory changes? One of former President Trump’s campaign platforms calls for additional US production growth if he’s re-elected in November. What levers could we expect the White House to pull to incentivize more drilling and production? While there are opportunities both onshore and offshore to improve access to federal oil and gas opportunities, the potential supply implications aren’t as straightforward. Other mechanisms like modifying royalty rates or removing environmental regulations could motivate some E&Ps to increase investment. But is that enough to offset shareholder demands calling for limited growth?