Vitol CEO sees slight drop in US oil output this year due to lower prices-January 2024-www.financetom.com

Vitol CEO sees slight drop in US oil output this year due to lower prices

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Vitol CEO sees slight drop in US oil output this year due to lower prices

Jun 16, 2025 9:13 PM

KUALA LUMPUR (Reuters) -The chief executive of top energy trader Vitol expects a slight reduction in U.S. oil production this year due to lower prices, he said on Tuesday.

"With slightly lower prices ... we're beginning to see some impact on investment and production. And there's nowhere more obvious for that than within the U.S. and within the shale industry," Russell Hardy said at the Energy Asia conference.

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