Goldman Sachs analysis suggests that US President Donald Trump prefers crude oil prices ranging from $40 to $50 per barrel, as per his social media posts.
The current trading of crude oil prices is on the rise due to advancements in US-China trade negotiations, but there is an expected significant rise in US oil inventories.
There might be a conflict between Trump’s preference for lower oil prices and the requirements of US shale drillers, who need higher prices to sustain production.