17 March | Oil

Bloomberg: oil producers are concerned about future of industry due to Donald Trump's policies

Bloomberg: oil producers are concerned about future of industry due to Donald Trump's policies

According to Bloomberg, Donald Trump's return to the role of US President initially boosted the mood of oil producers. However, industry executives later expressed concerns about the future of the sector. The reason lies in the US leader's controversial policies and his intention to lower energy prices.

As Bloomberg highlights, the oil industry is shaped by factors such as crude production levels, production costs, and the geopolitical landscape. All of these elements are reflected in oil prices.

Since late 2023, Brent oil price has been steadily declining from the level of $100 per barrel. Currently, market participants are maintaining a bearish stance on oil prices. This is primarily due to a sharp increase in supply and OPEC+ production. Following the alliance's announcement to ease oil output restrictions, Brent fell below $70 per barrel.

According to experts of the agency, the appointment of Chris Wright to the post of the US Minister of Energy will not improve the situation with oil prices. The official will follow the instructions of the White House and will not listen to the requests of the industry representatives.

Anton Volkov MarketCheese
Period: 14.05.2025 Expectation: 1650 pips
Technical and fundamental background supports AUDCAD
07 May 2025 76
Elena_Dorokhina
Elena_Dorokhina

Listed among the best MarketCheese authors
1st in the segment "Currencies"
Period: 08.05.2025 Expectation: 550 pips
EURUSD to drop to 1.13000
07 May 2025 52
Period: 13.05.2025 Expectation: 240 pips
Brent crude price rebound to continue up to 65
07 May 2025 67
Period: 14.05.2025 Expectation: 1000 pips
Buying GBPUSD amid trade talks and weaker dollar with target at 1.344
07 May 2025 34
Period: 12.05.2025 Expectation: 1500 pips
USDJPY rebound fades ahead of Fed meeting
06 May 2025 68
Period: 30.05.2025 Expectation: 975 pips
Natural gas maintains upside potential within megaphone pattern
06 May 2025 75
Go to forecasts