Analysis: Reductions in US Oil Employment and Investment Pose Risks to Production Growth

U.S. Oil Industry Challenges: The U.S. oil sector is facing significant layoffs and spending cuts due to declining oil prices and increased competition from OPEC+, which has led to a potential plateau or decline in U.S. oil production.

Impact of Tariffs and Costs: Rising costs from tariffs and inflation are exacerbating the situation, with companies like ConocoPhillips and Diamondback Energy reporting increased operational expenses and a reduction in workforce, contributing to a decrease in production capacity.