Oil executives meet Trump to discuss tariffs and prices

The chief executives of over a dozen oil companies are meeting with President Donald Trump today. They will express thanks for his support of the oil and gas industry but also voice concerns about potential challenges. Trump has taken steps that help the oil sector since taking office, such as reversing policies that raised costs and limited production. However, there are worries about the impact of tariffs and falling crude oil prices on the industry. Some leaders fear that a trade battle could hurt demand for oil. The meeting includes leaders from major oil companies like Exxon, Chevron, and BP, as well as smaller producers and refiners. Officials from the Department of Energy will also attend. This gathering is the first major discussion since Trump’s second inauguration and the establishment of a new council focused on energy dominance. During the meeting, oil executives are likely to compliment Trump on policies that support energy production, such as the end of a halt on natural gas exports. They will also advocate for easier permitting processes to help with development projects. Despite the optimism, leaders point out that Trump’s promise to lower energy prices may not align with the need for higher prices to sustain production growth. Currently, oil prices are below the levels some executives believe are necessary to support their operations.