07:10 AM EDT, 03/19/2025 (MT Newswires) -- US President Donald Trump is set to host a meeting with top oil executives at the White House on Wednesday to discuss plans to boost domestic energy production as crude prices fall and trade wars loom, Reuters reported Wednesday.

Reuters said it will be Trump's first meeting with oil and gas leaders since returning to office in January.

The gathering will include members of the American Petroleum Institute's executive committee, such as ExxonMobil ( XOM ) CEO Darren Woods, Chevron ( CVX ) CEO Mike Wirth, ConocoPhillips ( COP ) CEO Ryan Lance, Phillips 66 (PSX) CEO Mark Lashier, and Marathon Petroleum ( MPC ) CEO Maryann Mannen, according to Reuters.

The report said the meeting is seen as a 'victory lap' for Trump's early support of the oil industry. However, executives are expected to express concerns over Trump's ongoing trade wars and the need for higher oil prices to support the president's goal of increasing domestic production.

American Petroleum Institute spokesperson Bethany Williams told Reuters that the trade group appreciated the opportunity to discuss how the industry drives economic growth and strengthens national security.

The American Petroleum Institute did not respond to MT Newswires' request for comment, while the White House couldn't be reached immediately.

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