Wall Street investment bank %GoldmanSachs (NYSE: $GS) says U.S. President Donald Trump appears to want oil prices as low as $40 U.S. to $50 U.S. a barrel.
Goldman Sachs has made the claim after analyzing the president’s social media posts regarding oil prices.
In a note to clients, Goldman energy analyst Daan Struyven says that Trump “has always been focused on oil and on U.S. energy dominance, having posted nearly 900 times” on the subject.
The report goes on to say that, based on Trump’s social media posts, the president’s “inferred preference for WTI appears to be around $40 to $50 a barrel…”
West Texas Intermediate (WTI) crude oil, the American standard, is currently trading at $60.86 U.S. per barrel, down 12% on the year.
Brent crude oil, the international benchmark, is trading at $63.87 U.S. a barrel.
In his social media posts, President Trump talks of the need for lower energy prices, and references everything from OPEC+ policies to U.S. gasoline prices.
His administration has talked in recent months of increased domestic production, seeing lower energy prices as a means to bring down inflation.
President Trump “tends to call for lower prices (or celebrate falling prices) when WTI is greater than $50,” wrote Struyven.
Goldman Sachs reiterated that it expects oil prices to move lower in 2025 and into 2026 as global demand moderates, leading to an oversupply of crude.
The stock of Goldman Sahs has risen 6% this year to trade at $611.60 U.S. per share.
