The United States does not know formal details of Saudi Arabian and Russian plans to reduce oil supply yet and will not ask U.S. domestic oil ...
The United States does not know formal details of Saudi Arabian and Russian plans to reduce oil supply yet and will not ask U.S. domestic oil producers to chip in with their own cuts, a senior administration official told Reuters on Thursday.
Trump was set to meet with leaders of U.S. oil companies on Friday. He will discuss domestic production cuts but will not ask executives to agree on a coordinated drop in supplies, said the official, who spoke on condition of anonymity. The official described Trump as a broker between Saudi Arabia and Russia, calling their leaders multiple times to help solve the impasse. The president was in a good mood about the developments, he said.
The official said tariffs on imported crude oil had come up as a potential solution to help domestic producers but indicated they were not under serious consideration. It would be difficult to impose tariffs when transactions were down, he said.
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