It appears that there has not been significant discussion regarding the challenges that President #Trump will face in persuading oil executives in the coming months. My concern arises in light of the noteworthy decline in the total oil rig count, which is projected to continue into March 2024.

In March 2024, there were 629 rigs in operation; however, this week the count has decreased to 576. 

It is one thing to assert intentions to increase drilling, but it presents quite another challenge to convince oil companies to align their priorities with the President's objectives rather than adhering to the desires of shareholders, who typically favor higher dividends.

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#Investing #Oil #Inflation