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Baker Hughes Dashes Hopes That Oil Producers Will Increase 2025 Spending

OilPrice · Alex Kimani · last updated
U.S. oil and gas producers are likely to boost output primarily from improved efficiencies rather than new drilling and higher spending, Baker Hughes (NYSE:BKR) chief executive Lorenzo Simonelli told Reuters on Monday. Simonelli’s sentiments mirror those of Exxon Mobil’s (NYSE:XOM) Upstream President Liam Mallon who recently dismissed the notion that U.S. producers will dramatically increase output under a second Trump term. “I think a radical change is unlikely because the vast majority, if not everybody, is primarily focused…
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