The trip, which will also include visits to Qatar and the United Arab Emirates, is expected to help lay the groundwork for President Donald Trump’s own visit to those countries likely in mid-May. It comes at a critical time, on the heels of Trump’s surprise announcement on Monday that the U.S. and Iran are having direct talks on Tehran’s nuclear program and as global oil prices hit a near four-year low.
Oil prices have fallen on worries that Trump’s latest tariffs could push economies around the world into recession at the same time OPEC+ oil producers speed up increases in production.
Wright will start his trip in the United Arab Emirates, followed by Saudi Arabia over the weekend, and then Qatar, and he will also meet with the leaders of some of the countries, the Energy Department source said.
Trump has said he wants to drive Iran’s oil exports to zero to prevent Iran from getting a nuclear weapon. Increased oil output from other global producers could help prevent a politically damaging price spike if Washington’s sanctions cut the exports.
Low oil prices could also help the United States by pressuring Russia, another top oil exporter, to come to an agreement over its war in Ukraine by choking some of the revenue Moscow depends on to fund the fighting.
The source said that Wright will likely have conversations about ensuring an abundant global supply of oil beyond countries where the United States has sanctions on oil exports including Iran, Venezuela and Russia.
Discussions will also center on investments by the three countries in the United States after the UAE last month committed to a 10-year $1.4 trillion investment framework in AI infrastructure, semiconductors, energy and manufacturing.
Trump in January asked Riyadh to increase a planned U.S. investment package to $1 trillion from an initial $600 billion.
Wright, who led fracking company Liberty Energy before becoming secretary, speaks often about how U.S. oil companies can lower production costs as a way to deal with lower crude prices. The source said Wright will tour oil and gas production sites in the Middle East, looking at ways to cut costs.
He will also visit the nuclear power plant in the UAE, the source said. Saudi Arabia also wants to develop commercial reactors, though unlike the UAE, Saudi Arabia has resisted strict proliferation agreements related to nuclear power.
Crown Prince Mohammed bin Salman has said the kingdom would develop nuclear weapons if its rival Iran does, raising proliferation experts’ concerns about a potential nuclear arms race in the Middle East.
Wright’s visit will come weeks after he met with Israeli Energy Minister Eli Cohen, who proposed to him an oil pipeline running from Saudi Arabia to Eilat, Israel, where oil could be shipped to Europe.
(Reporting by Timothy Gardner; Editing by Leslie Adler)
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