Baltimore, MD -- (SBWIRE) -- 11/28/2016 -- Popular financial advice website – Money Morning talks in-depth about the future of oil prices and how the newly elected president of the U.S., Donald Trump will have an impact on the oil prices and how will he make 'America Energy Independent'.
"With the elections finally concluded and Trump finally elected as the 45th U.S. president in the 2016 election, numerous questions are rising in the minds of the people, especially about how will he lead the country to make it 'Energy Independent'. So, if you have any questions regarding the future of the U.S. economy, then don't worry and don't waste your precious time over the internet – searching for the answers to your questions regarding the future of U.S. Economy; because - like other important topics - we will keep you updated with all the necessary information and will try to answer all of your questions regarding the American Economy's future", stated the spokesperson of Money Morning.
Donald Trump was seen as the most favorable candidate toward increased oil production in the United States. But still, it is expected that he may face a lot of difficulties in making 'America Energy Independent'. According to recent reports Trump is planning to entirely stop oil import from Saudi Arabia, but as Saudi Arabia is the largest Middle Eastern oil supplier to the U.S. with an 11% market share and has also invested heavily in U.S. downstream assets (refineries), saying 'no' to importing oil from Saudi Arabia could be a tough challenge for the U.S. government.
Apart from U.S. take on the oil production and the oil prices, the overall oil prices globally are expected to rise in 2017 – after the being very volatile during 2016. This rise is expected because currently, the OPEC members are in talks of putting a cap on the putting a cap on oil production, but so far an agreement has not been reached.
Money Morning Global Energy Strategist Dr. Kent Moors believes that Saudi Arabia has an incentive to convince other OPEC members to limit oil production to help oil prices climb.
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