U.S President Donald Trump will receive top oil executives at the White House as he charts ways to increase domestic energy output in the face of low petroleum prices and possible trade fights.
The meeting will be Trump’s first with oil and gas leaders since returning to the White House for a second term as president in January.
The meeting will include members of the American Petroleum Institute’s (API) executive committee, according to reports.
ExxonMobil CEO Darren Woods, Chevron CEO Mike Wirth, ConocoPhillips CEO Ryan Lance, Phillips 66 CEO Mark Lashier and Marathon Petroleum CEO Maryann Mannen are among the leaders on the trade group’s executive committee, according to public biographies.
The meeting will be part “victory lap” for Trump’s early support of the industry, the source said, but executives are also expected to express concerns over Trump’s trade wars and emphasize the need for higher oil prices to help meet the president’s promise to grow domestic production.
Trump is pursuing a trade war with allies Mexico and Canada that the API has publicly opposed, in part because the two US neighbors are its top sources of imported crude oil.
Trump has previously slapped tariffs on imported crude from Canada and Mexico, but has granted exemptions to producers who can demonstrate compliance with the three countries’ trade accord, the United States-Mexico-Canada accord.
API CEO Mike Sommers responded to the tariffs last month, saying, “Energy markets are highly integrated, and free and fair trade across our borders is critical for delivering affordable, reliable energy to US consumers.”
