Trump to host Big Oil executives at White House to discuss market slump [Yahoo! Finance News]
Exxon Mobil Corporation (XOM)
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Source: Yahoo! Finance News
U.S. President Trump leads daily coronavirus response briefing at the White House in WashingtonWASHINGTON ) - U.S. President Donald Trump will meet with oil company executives at the White House on Friday to discuss a historic oil-price slump threatening their businesses, brought on by the coronavirus outbreak and a Saudi-Russia price war.The administration may offer ways to help the industry weather the crisis, including waiving royalty payments drillers must pay for oil produced on federal lands, or imposing an import tariff on foreign crude oil, according to sources familiar with the matter.Trump is also likely to highlight his efforts to push Moscow and Riyadh to end their price war and tighten the taps to bring prices back up, the main hope for an ailing U.S. drilling industry that supported his presidential campaign.Trump said on Thursday Saudi Arabia and Russia had agreed to cut output by an unprecedented 10 million to 15 million barrels per day bpd), representing 10% to 15% of
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