U.S. President Donald Trump met with top oil and gas executives at the White House on Wednesday, outlining plans to boost domestic energy production as crude prices decline and trade tensions with Mexico and Canada escalate.
The meeting, Trump's first with energy leaders since returning to office in January, focused on American energy dominance, permit reforms, and strengthening the nation’s electricity grid to compete with China in artificial intelligence, according to Interior Secretary Doug Burgum and Energy Secretary Chris Wright.
Executives had been expected to raise concerns over Trump’s tariffs and highlight the need for higher oil prices to support U.S. production, but Burgum said pricing was not discussed, citing supply and demand as the determining factor.
API President Mike Sommers said industry leaders appreciated the opportunity to meet with Trump but did not disclose details of the discussions.
The meeting included members of the American Petroleum Institute’s (API) executive committee, including CEOs from ExxonMobil, Chevron, ConocoPhillips, Phillips 66, Marathon Petroleum, and Hess Corp. Also present was Harold Hamm, CEO of Continental Resources and a key Trump ally.
Trump is pursuing trade measures against Mexico and Canada, two of the U.S.’s top crude suppliers, which API has publicly opposed. While Trump has already imposed tariffs on imported crude, exemptions have been granted for producers complying with the United States-Mexico-Canada Agreement (USMCA).
"Energy markets are highly integrated, and free and fair trade across our borders is critical for delivering affordable, reliable energy to U.S. consumers," API CEO Mike Sommers said in response to the tariffs last month.
API has proposed a five-point energy plan for Trump and Congress, calling for permit reform, offshore oil leasing, tax credits for carbon capture and hydrogen production, and cutting electric vehicle subsidies.
Analysts at Wood Mackenzie forecast Brent crude prices to average $73 per barrel in 2025, a $7 drop from 2024, citing U.S. tariffs and OPEC+ output increases. On Wednesday, Brent crude settled at $70.78 per barrel, while West Texas Intermediate (WTI) closed at $67.16.
Trump and his allies have vowed to increase U.S. oil production by 3 million barrels per day while cutting energy costs for Americans through deregulation and permit acceleration.
However, Ed Hirs, an energy economist at the University of Houston, warned that boosting output without ensuring stable prices could hurt the industry.
"The best way to maintain oil production and energy independence is to support a higher oil price," Hirs said. "Drill-baby-drill is not the way forward."
President Vladimir Putin’s announcement of a temporary Easter ceasefire in Ukraine has drawn strong criticism from Kyiv, as Ukrainian leaders question the sincerity behind Moscow’s gesture amid continued hostilities and deep mistrust.
President Volodymyr Zelenskyy has denounced a Russian drone strike that occurred just hours after the start of a declared Easter truce, calling it proof of Vladimir Putin’s blatant disregard for both the holiday and human life.
Elon Musk announced on Saturday that he plans to visit India later this year, following a discussion with Indian Prime Minister Narendra Modi about potential collaboration in technology and innovation.
Mount Etna, one of the world's most active volcanoes, erupted once more early on Saturday, with ash and lava spewing from the southeastern crater. The eruption, which began late Friday night, continued through midday, local sources reported.
The Holy Fire ceremony stands as one of Christianity's most enduring and mysterious rituals, drawing thousands of pilgrims to Jerusalem each year.
Thousands have protested outside the UK Supreme Court after a ruling limited the legal definition of a woman to biological sex, raising concerns among trans rights advocates.
A building collapse in New Delhi has killed at least 11 people, including three children, as rescue teams continue searching through the debris for survivors.
Christians worldwide are marking Easter Sunday together this year, as both Catholic and Orthodox churches celebrate the resurrection of Jesus on the same day.
Police in Ecuador have arrested four suspects after gunmen killed 12 people at a cockfighting ring.
Rough seas have killed five and left two missing along Australia’s southeastern coast.
The Russian ruble has emerged as the top-performing currency globally in 2025, registering an impressive 38% appreciation against the US dollar since the beginning of the year, according to a report by Bloomberg.
A small plane crashed near Kopake, New York, on April 13, killing at 6 people. The Mitsubishi MU-2B aircraft, carrying six people, went down under unclear circumstances. This marks the second aviation accident in New York in a week, raising safety concerns.
The Holy Fire ceremony stands as one of Christianity's most enduring and mysterious rituals, drawing thousands of pilgrims to Jerusalem each year.
Several regions in Ukraine faced heightened alert on Palm Sunday, as reports of explosions and missile threats drew public attention and official responses.
Severe rainfall on April 17 led to flooding and landslides in the Piedmont region, prompting a large-scale emergency response from over 400 firefighters.
Dan Pettit, America’s oldest active astronaut, has returned to Earth on his 70th birthday after completing his fourth mission aboard the International Space Station (ISS).
Thousands have protested outside the UK Supreme Court after a ruling limited the legal definition of a woman to biological sex, raising concerns among trans rights advocates.
A building collapse in New Delhi has killed at least 11 people, including three children, as rescue teams continue searching through the debris for survivors.
Christians worldwide are marking Easter Sunday together this year, as both Catholic and Orthodox churches celebrate the resurrection of Jesus on the same day.
Police in Ecuador have arrested four suspects after gunmen killed 12 people at a cockfighting ring.
Thousands have protested outside the UK Supreme Court after a ruling limited the legal definition of a woman to biological sex, raising concerns among trans rights advocates.
A building collapse in New Delhi has killed at least 11 people, including three children, as rescue teams continue searching through the debris for survivors.
Christians worldwide are marking Easter Sunday together this year, as both Catholic and Orthodox churches celebrate the resurrection of Jesus on the same day.
Police in Ecuador have arrested four suspects after gunmen killed 12 people at a cockfighting ring.
Rough seas have killed five and left two missing along Australia’s southeastern coast.
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