I honestly think this is a question that does not need over thinking. Many types of exercise can result in fat loss, but its all about calorie removal. So running, swimming and intensive cycling can result in high calories/hour but wont do much if your eating too much in a day.
Its a fallacy that you can do particular exercise to target areas of fat, many studies have shown it makes almost zero difference "do this set of exercises to target fat on your belly and get your abs to shine etc"
By far the biggest factor is calorie deficit, that's all that matters. You can do 20 hours exercise a week, but if you eat more calories then then your taking out, you wont loose weight.
When i was 115kg I used to do say 3 hours of exercise a week when i was trying to loose weight and lost about 2lb of weight per week for over a year. I'm currently doing maybe 5 or 6 hours of even more high intensity exercise and i have been the same weight for the last year (because that's the weight i want to be). The difference is that now im taking in around 2500 calories a day which holds me, rather then my 1700 - 1900 calories for day i was taking in before.
So doing walking and keeping your steps up on a daily basis and keeping yourself in calorie deficit through a sensible diet will do loads more for you weight, then taking up running 5 times a week and still eating loads. That leads to people saying "this exercise stuff is useless its just impossible for me to loose weight" when in reality its that they are taking in more calories then they are using.
When on Keto the calculation gets more complicated as Keto calories don't always stack up due to the way its all metabolized, but a few weeks of tracking how many calories your taking vrs your weight loss will tell you where the line is. After the first few weeks of weight loss you want to be balancing calories for a 2lb per week average loss.
One thing as mentioned above is increasing muscle mass, so doing weight training and increasing strength burns calories when you are doing it, but then if you have stronger larger muscles they use more calories just sitting about. Stronger muscles also burn glucose much more effectively so it helps reduce your reliance on low carb foods if your a type 2.