Mallon emphasized that while there may be encouragement for increased drilling, major oil producers are unlikely to significantly raise output due to economic considerations and a cautious approach.
Despite Trump's push for increased oil production via federal lands, Mallon noted that much of the land in Texas is private, and a significant drilling ramp-up isn't expected.
Mallon observed that US oil producers are approaching production strategically, considering the timing of bringing new wells online against their existing inventory.
The comments from Mallon illustrate a hesitance among major US oil operators to shift towards a 'drill, baby, drill' mentality, citing the importance of long-term economic viability.
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