Amid Trump's 'Drill Baby, Drill' Pledge, Strategist Predicts US Oil Supply Will See 'Marginal' Increase: 'Does The World Need That Much Oil?'
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 25 2024
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Source: Benzinga
Trump's Oil Production Plans: Donald Trump's proposal to significantly increase U.S. oil production has been met with skepticism from energy experts, who question the necessity of an additional 3 million barrels per day and highlight potential geopolitical risks and market complexities that may hinder such growth.
Shift Towards Renewables: While Trump focuses on fossil fuels, Elon Musk advocates for solar power as a sustainable energy future, indicating a growing investment opportunity in renewables amidst political changes and cautious attitudes from oil producers regarding increased output.
Analyst Views on XOP
Wall Street analysts forecast XOP stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for XOP is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 134.630
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Current: 134.630
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
