President Trump’s efforts to refuel the oil industry have been hindered by his trade war. When Trump first arrived in office, he began rolling back environmental regulations, also expediting permitting in an effort to increase drilling. However, Trump’s trade war has also hindered global demand for oil, decreasing the benchmark West Texas Intermediate oil price from $80 a barrel to $60. The president’s demands for lower prices may have contributed to decisions by the OPEC cartel to boost oil production. America’s oil drillers are troubled by today’s low price, needing around $63 a barrel to break even on costs. 

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