Trump, Middle East
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4don MSN
The major oil producers known as OPEC+ did exactly what U.S. President Donald Trump has been asking for — and American producers may be the ones to soon pay the price.
Trump's agenda will likely include Israel-Gaza ceasefire talks, oil, trade, investment deals, and potential announcements on chip exports and nuclear energy.
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.
The two leaders are expected to discuss US efforts to dismantle Iran's nuclear program, end the war in Gaza, hold down oil prices and more.
"Everyone is very concerned about the demand outlook because of the trade war," RBC Capital Markets head of commodities Helima Croft tells CNBC's Dan Murphy ahead of President Trump's Middle East visit and the May 5 OPEC+ meeting.