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Trump to Meet With Oil Execs Friday - Report

Published 04/01/2020, 02:31 PM
Updated 04/01/2020, 02:33 PM
© Reuters.

By Kim Khan 

Investing.com - President Donald Trump will meet with top oil company executive on Friday to discuss ways the industry can be assisted, The Wall Street Journal reported Wednesday.

Trump will host at the White House Exxon (NYSE:XOM) CEO Darren Woods, Chevron (NYSE:CVX) CEO Mike Wirth, Occidental (NYSE:OXY) CEO Vicki Hollub and Continental Resources (NYSE:CLR) CEO Harold Hamm, the Journal reported.

The industry has been hammered by the demand destruction caused by the Covid-19 pandemic and further pressure on prices from a market-share war between Saudi Arabia and Russia.

WTI futures fell about 1%. The government reported earlier that U.S. oil inventories soared by more than 10 million barrels last week.

Latest comments

I thought Trump always wanted low oil price?
Finally, there's an incentive to drive one's gas guzzlers again ;) LOL. The good ol' days are back.
Oh yes on with the tariffs that should do the job. As unemployment surges approaching 30% and you can't sell cars who do you think will be buying gas? Back in the great depression has was .10 cents a gallon and our gloppy stayed parked.
There will be no tariffs
Trump is considering tariffs on imported oil into USA. Tariffs on foreign oil will push WTI to $40 while destroying Brent crude´s price...a great tool to protect WTI
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