President Trump outlines his plan to prioritize American energy dominance, promising massive tax cuts, deregulation, and a renewed focus on manufacturing. He also calls on OPEC to reduce oil prices, suggesting it could stop the Russia-Ukraine war.
prices at the same time. The President put OPEC and on oil on notice when he said he was going to ask Saudi Arabia and OPEC to bring down the cost of oil but at the same time fed into the animal spirits of global bankers by signaling a new golden age to invest in America. President Trump started the talk about removing some of the ridiculous regulations that Biden put into place and reducing the cost of doing business with major tax cuts and fast-tracking projects.
Under the Trump administration, there will be no better place on Earth to create jobs, build factories, or grow a company than right here in the good old USA.” With oil prices going down, I’ll demand that interest rates drop immediately—and likewise, they should be dropping all over the world. Interest rates should follow us.
Still in the short term before we can get a commitment by OPEC to raise production and until we get more of a clear vision as to how President Trump is going to enforce sanctions on Iran, Venezuela and Russia the global and US oil market is very tight. Oil demand on the four-week moving average averaged 19.7 million barrels a day, up by 0.7% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.3 million barrels a day, up by 1.9% from the same period last year. Distillate fuel product supplied averaged 3.6 million barrels a day over the past four weeks, up by 6.2% from the same period last year. Jet fuel products supplied were up 8.9% compared with the same four-week period last year.
India of course doesn’t seem like they want to stop buying Russian oil despite new sanctions. Reports are saying that India’s oil minister will be happy to buy Russian crude if it is at a very good discount. Because that means he’s putting India first.
Politics TRUMP ENERGY OIL PRICES OPEC ECONOMY MANUFACTURING TAX CUTS
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