US Energy Secretary Chris Wright said on April 13 that oil prices will “almost certainly” average lower under President Donald Trump than they did during the Biden administration, a projection that may already be playing out.

Crude was around $100 a barrel in 2022, during Joe Biden's presidency, but this past week hovered between $63 and $66.

Wright made his remarks to reporters in Riyadh during a nearly two-week visit to the Gulf. Last week, he traveled to the United Arab Emirates and Saudi Arabia and this week to Qatar. Wright was in the region laying the groundwork for Trump’s first trip abroad since his inauguration, in January. The president's visit is expected to include all three countries and take place next month.

While president, Biden was frequently at odds with Riyadh over energy policy. The White House felt that the kingdom, the world’s largest crude oil exporter, largely ignored its requests to boost production and lower prices to curb inflation. Trump, by contrast, maintains warmer ties with the Saudis and has consistently pushed for increased US fossil fuel exports, including liquefied natural gas. He also sought to bring down energy prices by urging the Organization of the Petroleum Exporting Countries (OPEC) to increase oil output.