Trump To Host Top US Oil Chief Executives

US President Donald Trump will host top oil executives at the White House as he charts plans to boost domestic energy production in the midst of falling crude prices and looming trade wars.

The meeting will mark Trump’s first sit-down with oil and gas leaders since returning to the White House for a second term as president in January.

It will include members of the American Petroleum Institute’s (API) executive committee, according to one source familiar with the planning of the closed-door event. 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.

Asked to comment on the meeting, API spokesperson Bethany Williams reiterated previous comments that the trade group appreciated the opportunity to discuss how the industry is driving economic growth and strengthening national security.

The White House did not respond to requests for comment.

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 already imposed tariffs on imported crude from Canada and Mexico but issued exemptions for producers who can prove they comply with the trade agreement between the three countries, the United States-Mexico-Canada Agreement.

Last month, in response to the tariffs, API CEO Mike Sommers said, “Energy markets are highly integrated, and free and fair trade across our borders is critical for delivering affordable, reliable energy to US consumers.”

REUTERS/Christopher Ojilere