Oil prices dropped by 1 per cent on Friday and were set for their first weekly decline in three weeks as US President Donald Trump recommended a 50 per cent tariff on the European Union and expectations rose that OPEC+ will increase crude output further in July.

President Donald Trump’s campaign promise of U.S. “energy dominance” is running into a flood of OPEC crude oil — a surge of fuel production pushed by the Saudi leaders greeting him during his Mideast trip this week.

Since he returned to the Oval Office the benchmark West Texas Intermediate oil price has fallen from $80 a barrel to $60 (see chart 1). Some also speculate that Mr Trump’s noisy demands for a lower price contributed to a recent decision by the OPEC cartel to boost production,

Terrel Hardin was at a diner along Route 66 in western Oklahoma when his phone rang with bad news: The engine on one of his oil rigs had broken. In times past it would be a straightforward $6,000 fix,

President Trump lands in Riyadh, breaking tradition with a high-stakes meeting that has the potential to reshape US-Saudi relations.

The analysts concluded that Trump appears to prefer West Texas Intermediate oil in the $40 to $50 a barrel range — well under today's $63 a barrel.

Speaking in Qatar, U.S. President Donald Trump said the U.S. was getting close to securing a nuclear deal with Iran.

OPEC on Wednesday trimmed its forecast for growth in oil supply from the United States and other producers outside the wider OPEC+ group this year and said it expected lower capital spending following a decline in oil prices.

US President Donald Trump appears to prefer oil prices between $40 and $50 a barrel, according to Goldman Sachs Group Inc., citing an in-house analysis of his social-media posts on the topic.

You have heard Donald Trump jeer at ‘woke’ left wingers, dismiss climate warriors and promise to go all out to promote oil drilling even in the Alaskan wilderness. But what if he’s a closet ...

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