Bloomberg: Trump Could Collapse Oil To $40-50 A Barrel

The U.S. president has always focused on oil and the country's dominance in energy.

U.S. President Donald Trump appears to be considering a drop in the price of U.S. oil to between $40 and $50 a barrel. His administration favors increasing domestic production.

- Trump has always focused on oil and U.S. energy dominance, having written about it nearly 900 times, Bloomberg quoted Goldman Sachs Group Inc. analysts as saying (translated by Unian).

They said he supposedly prefers WTI crude in the $40 to $50 a barrel range.

Oil prices - both the global benchmark Brent grade and its U.S. counterpart West Texas Intermediate, or WTI - are often influenced by the president's many comments on social media, which can touch on everything from OPEC policy and U.S. gasoline prices to sanctions against countries including Iran. His administration favors increased domestic production, as well as cheap energy to help reduce inflation.

- The American leader tends to call for lower prices or celebrate their fall when the price of WTI exceeds $50. At the same time, President Trump calls for higher prices when they are very low (WTI below $30), often in the context of supporting US manufacturing," analysts said.

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