Well, this administration is certainly good at chaos. Due to the perpetual uncertainty it is causing with the US economy, many industries are not interested in making capital expenditures. So we were already facing a recessionary environment. Inflation remains higher than target, so no quick rate cuts. It looks like oil is in for decline for a few years.
Above you will see the Capacity Utilization (UCap) chart which economists sometimes use as a simple proxy for the US economy. Note the last data point is up, but it is the first month of the Trump administrations reign. I expect to see 2 of the next three months be down ticks. This would continue the contraction that began mid 2022. Oil (in red- not at scale but altered to fit in frame) tends to follow the UCap, if Ucap goes down, oil goes down. This Tariff will exacerbate the decline of oil prices.