Senior officials of the oil company meet Trump amid fear of fees and raw prices

Executive presidents give more than ten oil companies a message of thanks, in addition to a warning, when they meet with President Donald Trump today, Wednesday. Senior officials in large companies say they have many reasons to thank gratitude, as Trump is a strong advocate of oil and gas production in the United States, and has promised to launch the sector’s ability. Only two months after he held office, Trump has already taken steps to cancel the policy that increased the operating costs and lower the demand for fuel. But for 15 heads of oil companies visiting Trump in the White House, warning signals are also on their way to hegemony in the energy sector. Energy Minister Chris Wright suggested a target for oil price at $ 50 a barrel, a very low level that is not enough to continue with US production. The president spent days praising the decline in oil prices, which occurred after ‘OPEC+’ was requested to increase production, and the alliance responded to this question. The sector’s concern about the economic slowdown at the same time, the customs duties in which the president threatened the fear of the oil sector for a possible economic slowdown, even with these fees increasing the cost of materials that oil companies use to refine gasoline and drill pits. “I think businesses are enthusiastic about the new market opportunities Trump offers. But they are probably concerned about the decline in demand due to the trade war, and in general, in the oil sector, high prices achieve better results than low prices,” said Keview Energy Energy Partners LLC in Washington. It will be the first meeting of its kind since Trump’s inauguration of a second term, and its institution “The National Council for Hyemony in Energy” for policy formulation. The list of meeting participants is scheduled to include representatives of all sectors of the oil industry, including integrated oil companies “Exxon Mobil”, “Chevron,” Shell “,” BP “,” Conoco Phillips “,” Hess “, Independent Production Companies” Diamondback Energy “and” APA), “Oxidental Petroleum”, ” Controls and refineries, “petrolum”, “controls” and refinery, “refineries” marathon “and” Philips 66 “, and the Enbridge Pipelines and the Oilfield Services” Baker Hughes “. Trump and Energy Minister Wright, who is the Vice President of the Council. Details of the meeting were shared by people familiar with the matter, they asked not to reveal their identity because of the confidentiality of the meeting. They are expected to express their gratitude to Trump’s energy speech, which helps to improve investor confidence and to justify long -term spending plans. “President Trump’s energy agenda has put our country on the road to energy dominance,” said Bethani Williams, a US Petroleum Institute spokesman, in ‘NE post. The US Petroleum Institute has taken the initiative to arrange the meeting, and has already drawn up parts of its plan to bring about Trump’s energy vision, including detailed political recommendations for ten agencies in December, to implement this vision. One of the most important priorities of the sector is to simplify permits procedures and reduce the judicial review of federal licenses after years of approval, which can provide more certainty about the development process. Although some changes can be made administratively, it is considered sustainable if Congress is approved and legally determined. Is this in accordance with a lower energy cost with increased production? Some oil industry leaders also warn that Trump has promised to lower energy prices are not compatible with the increase in local crude oil production. Investors have also expressed little patience about constant spending on new drilling operations. The president’s sympathy for this situation is not clear. Last October, although he was still in his election campaign for the presidency, Trump boasted that energy prices would collapse as oil companies would significantly increase drilling operations. He said at the time, “If it leads to bankruptcy, I will never mind.” Senior economic advisers of the president believe that low energy prices are needed to compensate for any inflationary pressure of using customs tariffs to reform the global trading flow. Is $ 80 a barrel the minimum? But Harold Ham, founder of ‘Continental Resources’, who is planned to attend the meeting, said last week ‘Bloomberg’ said the price arrival of about $ 80 a barrel is needed to stimulate production. West -Texas Intermediate Crude, the US standard, closed at $ 66.90 a barrel on Tuesday, from $ 75.89 on the first day of Trump in the White House.