Oil tycoons who flocked to support Trump want him to drop all barriers and go after alternative energy, but they also worry about an over supply of oil.
Trump argued that it would put pressure on Russia to withdraw from Ukraine as its income from oil would sink amid the dropping prices, making the war too expensive.
That’s the conclusion of industry experts, who point out that oil producers are wooed far more by profitability than in pumping as much oil as possible out of the ground.
"As crude prices come down, we expect the industry revenues to go down and profits to go down," ExxonMobile CEO Darren Woods told CNBC last week.
After a phone call last month with Saudi Crown Prince Mohammed bin Salman he said that he planned to ask him to lower oil prices.
