Energy Secretary Chris Wright said on Thursday that the NAFT market Donald TrumpIt is invented more raw and gas in the United States.
“We have seen the discount market for the fact that it will be clearly easier to produce oil and gas in the United States,” said Wright CNBC, “Squawk box“” There is more supply, and this reduced the prices of oil, gasoline, home heating fuels, everything all over the board, it is a victory for the American people. “
The oil from oil in the US has dropped by almost 14% since Trump took office on January 20. Trump has made energy a central part of its program, focusing on increasing oil and gas production. The administration has He promised to increase the lease agreement in federal areas and implements and accelerate the process of issuing permits.
Trump tariffs and OPEC policy have been considering the oil market in recent weeks, because some are afraid that fees can lead to higher prices and slower economic growth. West Texas Intermediate on March 5 reached a low level of USD 65.22, the lowest than spring 2022, after Trump applied 25% tariffs on Canada and Mexico. President later released goods which are in line with the trading pact, which rules North America until April 2.
Chevron CEO Mike Wirth i Conococofillips The CEO of Ryan Lance said at an energy conference in Houston last week that they were expecting Oil production in the USA to the plateau In the coming years after reaching new records under the Biden administration. Wirth said Chevron is more focused on capital discipline than growing production.
“The prosecution of growth growth growth did not prove to be particularly effective for our industry,” said Wirtho at CEWEWEEK through the global S&P conference. “At some point you grew up so much that you should start going towards the plateau and you should generate more free cash flows, not just more barrels.”
OPEC+ also plans to start increasing production in April, gradually bringing 2.2 million barrels a day to the market, which is in the face of the surplus.
Trump, Wright and internal secretary Doug Burgum met with oil and gas directors Wednesday in the White House. Wright said that the first message of the administration was that they were going to work closely with the industry. They no longer have a “scarlet letter on his forehead,” said Wright.
Oil prices in the USA In recent days they have grown modestly when Trump has started Houthi raids In Yemen and he promised to pull Iran responsible for all future attacks of a group of fighters. West Texas Intermediate traded for 67.11 USD for Baryłka on Thursday morning.
Iran is a member of OPEC, and every escalation of voltage and the country raises concerns about the disturbance of supply. Trump intends to export Iran's oil to zero to force the Islamic Republic to negotiate the nuclear agreement.