Trump delivers a speech during a tour of the Double Eagle Energy Oil Rig in Midland, Texas in 2020
Trump’s oil market trade-off
Following through on threats to key oil producers while simultaneously bringing down prices will prove a tricky balancing act
US President Donald Trump has signalled his intention to maintain or tighten economic pressure on Russia, Iran and Venezuela, at least tactically, while also trying to rewrite the rules of the trade game. The dynamics of the oil market make this difficult. A similar dilemma overshadowed the Biden administration’s foreign policy and interaction with OPEC and the energy sector. It is a simple question with no clear answer: how do you tighten sanctions on many large oil producers and also lower domestic/local prices for energy? Add to the mix threatened tariffs on Canada and Mexico—which could raise the cost of domestic refined fuel as refineries either struggle to source other supplies of hea
Also in this section
17 February 2026
Eni’s chief operating officer for global natural resources, Guido Brusco, takes stock of the company’s key achievements over the past year, and what differentiates its strategy from those of its peers in the LNG sector and beyond
16 February 2026
As the third wave of global LNG arrives, Wood Mackenzie’s director for Europe gas and LNG, Tom Marzec-Manser, discusses with Petroleum Economist the outlook for Europe’s gas market in 2026
13 February 2026
Artificial intelligence is pushing electricity demand beyond the limits of existing grids, increasing the role of gas and LNG in energy system planning as a fast, flexible solution
13 February 2026
Panellists at LNG2026 say demand growth will hinge less on the level of global supply and more on the pace of downstream buildout, policy clarity and bankable market frameworks
