The administration’s iconic ‘drill, baby, drill’ slogan has been wishful thinking this year as U.S. benchmark crude prices, WTI, have lingered in the low to mid-$60s per barrel for months, about 13% below year-ago levels. The additional supply from the OPEC+ group and the Trump Administration’s inconsistent tariff and trade policies have reduced investors and speculators’ confidence that oil prices could stage a rebound soon.
