TAG Industrial Watch: April 18, 2026

Two weeks ago, President Trump welcomed the world to purchase oil from the U.S. to fulfill their energy needs due to the impact of the war in the Middle East, and the world has quickly accepted the president’s invitation. Oil production collapsed across the Middle East in March, with output -61% lower in Iraq, down -53% for Kuwait, dropping -44% in the United Arab Emirates, and sliding -23% in Saudi Arabia, the world’s largest oil exporter (CNBC). As expected, international oil demand has turned toward the largest producer in the world. This past week, at least 121 empty oil tankers were headed toward American ports, primarily along the Gulf in Texas and Louisiana (Energy News Beat). Due to the perceived risk, cost, and time, the domestic oil supply will likely struggle to keep pace with the sudden boom in international demand. As TAG previously explained, higher foreign oil prices will incentivize domestic suppliers to ship oil abroad instead of being sold here in the U.S. On one hand, this means less oil consumption here at home and, consequently, less economic activity without immediate substitutes. On the other hand, this is great news for domestic oil producers, the many oil service companies, and the industrial properties they depend upon.