Tariffs and Oil Market Dynamics

This chapter examines the potential economic impact of proposed tariffs on Canadian and Mexican crude oil, focusing on how these tariffs could affect U.S. refiners and oil prices. It discusses recent challenges in the oil market, including the implications of extreme weather events and geopolitical tensions, particularly between Russia and Ukraine. The conversation also evaluates the roles of OPEC and major integrated oil companies in navigating market fluctuations and maintaining stability amidst rising energy prices.