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AMERICAS OIL: When It Comes to Oil, Trump Can’t Have His Cake and Eat It Too

AMERICAS OIL
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When It Comes to Oil, Trump Can’t Have His Cake and Eat It Too: Velandera 

  • Manish Raj, managing director at Velandera Energy, told MarketWatch President Trump needs to choose what he wishes for, a lower oil price or higher domestic crude volume, because “he can’t have both.”
  • “The math doesn’t add up when you want to raise oil production while lowering price.” Unliked OPEC producers who “dance to foreign policy, American companies are driven by economics such that oil prices need to remain high in order to entice new drilling.”
  • Following Trump’s remarks Thursday suggesting he would ask OPEC to lower prices, Raj expects Trump’s conversation to be “more on the lines of the cartel releasing barrels to offset potential sanctions imposed on Iran and Venezuela.”
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When It Comes to Oil, Trump Can’t Have His Cake and Eat It Too: Velandera 

  • Manish Raj, managing director at Velandera Energy, told MarketWatch President Trump needs to choose what he wishes for, a lower oil price or higher domestic crude volume, because “he can’t have both.”
  • “The math doesn’t add up when you want to raise oil production while lowering price.” Unliked OPEC producers who “dance to foreign policy, American companies are driven by economics such that oil prices need to remain high in order to entice new drilling.”
  • Following Trump’s remarks Thursday suggesting he would ask OPEC to lower prices, Raj expects Trump’s conversation to be “more on the lines of the cartel releasing barrels to offset potential sanctions imposed on Iran and Venezuela.”