Trump's Tariff Turmoil Has Oil Prices So Low That It's Not Always Profitable to Drill
1. Oil prices drop to lowest since April 2021 due to tariffs. 2. WTI futures fell below $60 for the first time in years. 3. Tariffs may slow global economic growth and hurt oil demand. 4. Producers need oil prices above $65 to profitably drill new wells. 5. Higher completion costs may deter new oil production efforts.