The US President Donald Trump appears to prefer oil prices between $40 and $50 a barrel, according to Goldman Sachs Group Inc., citing an in-house analysis of his social-media posts on the topic.

Trump “has always been focused on oil and on US energy dominance, having posted nearly 900 times,” analysts including Daan Struyven said in a report. His “inferred preference for WTI (West Texas Intermediate) appears to be around $40 to $50 a barrel, where his propensity to post about oil prices bottoms,” they said. Oil prices — both Brent and West Texas Intermediate — are often buffeted by the US leader’s social-media commentary, which can reference everything from OPEC production levels and US gasoline prices to sanctions against nations including Iran. His administration has favored increased domestic production, as well as a broad push for cheap energy to help bring down inflation.

He “tends to call for lower prices (or celebrate falling prices) when WTI is greater than $50,” the analysts said. “In contrast, President Trump has called for higher prices when prices are very low (WTI less than $30) often in the context of supporting US production.”

WTI — which last traded just above $63 a barrel — has dropped about 12% so far this year, weighed down by the fallout from Trump’s trade tariffs, as well as a decision by OPEC+ to loosen supply curbs at a faster-than-expected pace. Still, prices have recovered some ground after the US and China scaled back some levies for 90 days, up from a four-year closing low seen earlier this month.

--With inputs from Bloomberg and oilprice.com

Oil prices fall as traders note jump  in US crude stockpiles

Oil prices fell on Wednesday as traders eyed a potential jump in U.S. crude inventories, while OPEC lowered its oil supply growth forecast for producers outside OPEC+. Brent crude futures fell 75 cents, or around 1.1%, to $65.88 a barrel by 1206 GMT. U.S. West Texas Intermediate (WTI) crude slipped 75 cents, or 1.2%, to $62.92, Reuters reported.