DIGIVESTASI - Global Oil Prices Drop Following Trump’s Pledge to Boost Production, Global crude oil prices have declined after U.S. President Donald Trump announced plans to increase domestic oil production while delaying trade tariff policies. This move is expected to drive up supply while suppressing market demand.

According to a report from Yahoo Finance on Tuesday (January 21, 2025), Brent crude oil prices fell nearly 1%, nearing the USD 80 per barrel mark.

Trump emphasized that on his first day in office, he would not immediately launch a tariff war against China, Canada, or Mexico. Instead, he ordered federal agencies to review the United States' trade relations with these nations.

Market observers are closely monitoring potential disruptions to oil supplies from Canada, the largest supplier to the U.S. Although Trump had previously signaled to the Alberta Premier that oil might not be included in the tariff exemption list.

As part of his strategy to boost domestic energy production, Trump announced that he would issue a series of executive orders, including emergency measures, just hours after his inauguration. “We will drill,” he declared in his inaugural speech.

Weather and Sanctions Influence Oil Price Movements
At the beginning of the year, oil prices rose due to extreme cold weather in the Northern Hemisphere, driving up demand for heating energy. Additionally, U.S. sanctions on Russia’s oil industry forced Asian consumers to seek alternative suppliers, creating market tensions.

However, additional U.S. sanctions on Russia have also disrupted the tanker market and affected refinery activities in China, which has begun purchasing oil from Europe. Speculators predict that the spike in Middle Eastern oil prices following these sanctions will soon slow down.

Scott Bessent, Trump’s pick for Treasury Secretary, revealed plans to support additional measures to pressure Russia’s oil industry, potentially exacerbating supply disruptions. Meanwhile, Trump’s National Security Advisor reiterated the administration's commitment to exert maximum pressure on Iran.

Donald Trump’s First Speech as President: The Golden Age Begins
U.S. President Donald Trump delivered his first speech at the Capitol Rotunda, Washington, D.C., on Monday (January 20, 2025). In his address, he declared the beginning of a new era, which he referred to as the “Golden Age of the United States.”

“The Golden Age of the United States begins now,” Trump stated, as broadcast live by the official Congressional Inauguration Committee account.

Trump reaffirmed his commitment to the “America First” principle and expressed optimism about the nation’s future. “I am confident we have entered a new era of unprecedented success,” he added.

He also mentioned the wave of transformation sweeping the nation. “Sunlight will shine across the world, and the United States has an opportunity to seize a moment like no other,” he declared.

Trump Officially Sworn In as the 47th President of the United States
Donald Trump was officially inaugurated as the 47th President of the United States after taking the oath of office at the Capitol Rotunda, Washington, D.C., on Monday (January 20, 2025).

In his oath, Trump stated:
"I do solemnly swear that I will faithfully execute the Office of President of the United States and will, to the best of my ability, preserve, protect, and defend the Constitution of the United States. So help me God."

At the same event, JD Vance was sworn in as Vice President of the United States after reciting his oath of office. Here is the oath delivered by Vance:
"I do solemnly swear that I will support and defend the Constitution of the United States against all enemies, foreign and domestic. That I will bear true faith and allegiance to the same, that I take this obligation freely, without any mental reservation or purpose of evasion, and that I will well and faithfully discharge the duties of the office on which I am about to enter. So help me God."

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