Exxon and Chevron Report Lower Profits While Girding for Tariffs
President Trump’s trade policies have helped to push down oil prices while raising the costs of materials for oil and gas companies.
It Is Happening Every Day, Every Where
President Trump’s trade policies have helped to push down oil prices while raising the costs of materials for oil and gas companies.
The agreement could provide a windfall to the U.S., but the resources will be expensive to extract, and any progress is unlikely while the war rages.
The main oil and gas trade group wants the Trump administration to reconsider maritime rules released in April that would require it to use some U.S. ships to transport liquefied natural gas.
After halting federal attempts to combat global warming, President Trump is now targeting efforts by states to reduce greenhouse gases, setting up a legal clash.
The slide in crude prices signals deteriorating confidence in the strength of the economy.
Eager to stay in Mr. Trump’s good graces, oil executives refrain from publicly criticizing the president. But privately, ‘Everyone’s afraid.’
Crude oil now costs around 15 percent less than it did before the president revealed his plans to impose stiff new tariffs on imports from most countries.
Fears that President Trump’s tariffs could slash global economic growth — and demand for oil as a result — were weighing on the market.
Saudi Arabia and other members of the OPEC Plus group accelerated their program to put more oil on the market, adding to a sharp fall in prices.
President Trump said he could impose tariffs on nations that buy oil from Russia if it thwarts negotiations for a peace deal in Ukraine. He suggested the same step was possible for Iran.