Goldman Sachs analysts have conducted an analysis of former President Donald Trump's social media activity, focusing on his interest in oil prices and the U.S. energy sector. The analysis reveals that Trump has posted nearly 900 times on related topics, indicating a strong focus on oil prices.
According to the analysis, Trump prefers West Texas Intermediate (WTI, Financial) crude oil prices to be in the range of $40 to $50 per barrel. When prices exceed $50, he tends to call for price reductions, while prices below $30 prompt him to advocate for increases to support U.S. oil production.
This preference aligns with Trump's broader energy strategy, which emphasizes increasing domestic oil production and promoting affordable energy to combat inflation. The report also notes that WTI prices have fallen about 12% this year, currently trading at $62.91 per barrel. Factors contributing to this decline include Trump's trade tariffs and OPEC+'s decision to ease supply restrictions faster than anticipated.
