Trump Predicts Post-Midterm Oil Price Decrease, Iran Concession

Why it matters locally: Given Oklahoma's significant reliance on the oil and gas industry, a projected decrease in oil prices could directly affect the state's economy, including employment and tax revenues. The President's comments on Iran's future actions could also influence global oil markets.

President Donald Trump indicated on Tuesday he anticipates a reduction in oil prices after the November midterm elections. He also offered the view that Iran will ultimately 'relent' following the conclusion of the pivotal U.S. elections. Trump made these statements during a conversation with reporters. The exchange occurred before he departed for Dallas, where he attended the midterm Republican convention.