Undoubtedly, the US President is a prominent figure. Sometimes Trump is criticized for his controversial decisions, though it is obvious that he possesses unique business acumen. Perhaps, he is the only American leader whose words can create turmoil in global markets.
Neither Barack Obama nor George Bush, having the same mandate, could influence the US dollar exchange rate, let alone oil prices. At the same time, Donald Trump can make a difference with a single post on Twitter. Thus, it is possible that he stands behind a recent plunge in the oil market. Remarkably, the plunge was record-breaking, with prices hitting the yearly lows. A post in a social network could not be enough to trigger such a massive crash. So, he used a phone call. According to Trump, the recent drop in oil prices is a result of his tense talks with Riyadh. “Oil prices getting lower. Great! Like a big Tax Cut for America and the World. Enjoy! $54, was just $82. Thank you to Saudi Arabia, but let’s go lower!” Trump tweeted. The US President persuaded the Saudis that it was necessary to ramp up production. His comments made oil prices take a nosedive. Besides, Trump added that his Middle East partners did him a great favor, though they could act otherwise. “After the United States, Saudi Arabia is the largest oil producing nation in the world. They have worked closely with us and have been very responsive to my requests to keeping oil prices at reasonable levels – so important for the world,” Trump stated on the White House official website.
