Why does US President Donald Trump want oil prices below $ 70 a barrel? !

First, on April 19, 2018, Brent crude touched for the first time during the past year the level of $ 74.75 a barrel, when Trump began launching objection tweets to OPEC that high and artificial oil prices are unacceptable, so that Trump's intervention came as a result of an inversion that continued for more than A month in which the price of Brent crude reaches at the level of $ 80.49 per barrel.

Secondly, on June 30, 2018, Brent crude recorded a level of $ 79.70 per barrel at the close of the previous day, when Trump announced that Saudi Arabia agreed to students to increase its oil production to compensate for losses from Libya and Venezuela and to reduce price rises, here they met on Hot oil screens See me the allies of America and Saudi Arabia, and prices have responded to the American desire and started a price break up to the level of $ 72 a barrel

Third, oil prices did not dare play effectively above the level of $ 80 a barrel from the end of June until September 21, 2018, when Trump emerged for the third time, but more angry and impulsive in the distribution of accusations to everyone to limit the launch of black gold above $ 80 < / b> , and Trump increased his accusations of OPEC by monopolizing and manipulating prices against the American interest, and reminded countries in the Middle East that they pay only a third of the price required for the American protection they enjoy Rather, the surface rose again to talk about the American Nubic Law, which seeks to classify OPEC as a monopoly organization, and raises the immunity of the sovereign. On behalf of OPEC members for prosecution in US courts

Fourth, the price battle ignited for only nine trading sessions in which Brent crude rose to its highest level in 2018 until the level of 86.74 dollars a barrel, which he recorded on October 3, 2018, which is the same day that witnessed the historical summit of the index < b> Dow Jones US at 26951 points
, and in a short period indicating the success of Trump's political impact on oil, occurred from October 3 to the midterm elections of November 6, 2018, a new decline for Brent crude, losing about 14.94 percent and settling around $ 72 a barrel with the entry of US sanctions on Iran in effect

Fifth, the sequence of those scenes confirms Trump's desire for low-price oil for several reasons, most notably the increase in US consumption of oil to over twenty million barrels per day, half of which is imported from abroad, especially from OPEC countries, to cover daily consumption and to reduce The US oil reserve deficit, according to Bloomberg’s estimates, that every dollar of increase above the level of $ 65 a barrel costs the US treasury 10 million dollars per day, and many Democrats accused President Trump of negligence in the matter of energy prices for the American citizen, since his inauguration in January 2017 MSI rose Gasoline is disgraced by about 25 percent, and the persistence of oil prices above $ 70 threatens to erode the proceeds of Trump's tax reform, especially tax cuts.

Sixth, the level of $ 80 a barrel of oil is painful and hindering US foreign policies, especially those related to sanctions on Iran, which represent oil revenues a quarter of the sources of its general budget ...