President Donald Trump has urged countries around the world to increase their purchases of oil from the US following global supply disruptions due to the conflict in the Middle East.
In his speech, he stressed that the US has a large production capacity to meet international market demand.
However, the reality is that US oil supplies are not enough to fully replace the disruption of shipments in the Strait of Hormuz, which is currently affected by tensions involving Iran. The route is one of the main arteries of global oil trade, and any restrictions have a direct impact on world supply.
As of April 13, crude oil prices remain high with global benchmark Brent Crude Oil trading around $100 per barrel, while West Texas Intermediate remains close to $96 per barrel.
This increase reflects ongoing concerns about supply and rising geopolitical risks.
The effects of this crisis are beginning to be felt globally as several Asian countries such as Thailand take steps to ratione fuel and reduce consumption by closing schools and implementing shorter work weeks.
The airline industry has also been hit as airlines in Asia and Europe have begun to reduce flight capacity, while in the US, United Airlines plans to reduce capacity by around 5% to cover rising fuel costs.
Meanwhile, domestic pressure in the US is escalating as rising petrol prices directly affect consumers. This situation is seen as politically risky ahead of the mid-term elections, with support for the Trump administration showing signs of weakening.
Recent polls have found that a majority of Americans want the country's involvement in the Iran conflict to end immediately, even if it means sacrificing some of its strategic goals. This sentiment reflects concerns about the economic impact that people are increasingly feeling.
In a related development, Trump also urged affected countries to take action themselves to reopen trade routes in the Strait of Hormuz.
However, analysts see this statement as an indirect admission that increased US oil exports alone are not able to fully solve the global supply crisis.
Meanwhile, the White House stressed that domestic oil production has continued to set records since the Trump administration began in January 2025, but the main challenges remain geopolitical factors and disruptions to the global supply chain.
