"The White House is inviting the country's top oil executives to a meeting tomorrow [Friday] about the oil crisis as a wave of layoffs, spending cuts and bankruptcies send shock waves through the industry.
The meeting is intended to discuss the Trump administration's response to the novel coronavirus epidemic that has sapped demand for energy and comes amid an international oil price war, a double punch that has caused chaos in the drilling industry, sources said. Trump told reporters yesterday that he may meet with independent oil producers over the weekend as well.
"We have a great oil industry, and the oil industry is being ravaged," Trump said."
Lesley Clark, Carlos Anchondo, and Mike Lee report for EnergyWire April 2, 2020.
SEE ALSO:
"Trump Sees Saudi-Russian Production Cuts Coming" (Greenwire $$)
"Trump Says Global Oil Production Could Be Cut By As Much As 15 Million Barrels" (The Hill)
"Oil Prices March Higher As OPEC Calls For Emergency Meeting On Monday" (CNN)
"Daily on Energy: Ceasefire in the Oil Price War Won’t Be Enough For Industry" (Washington Examiner)
"Trump To Rent Storage Space To Oil Producers As Demand Drops" (The Hill)
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