The news from Davos that President Trump will “ask Saudi Arabia and Opec to bring down the cost of oil” is certainly in keeping with his desire for lower gasoline prices and his clear intention to use energy as leverage over Russia to end the war in Ukraine. That said, lower oil prices will certainly not incentivise US oil producers to “drill, baby, drill” – particularly in high-cost Alaska. The downside risks to our already below-consensus oil price forecasts have risen.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.