Trump hosts Big Oil execs at White House to discuss market slump [Reuters]
Exxon Mobil Corporation (XOM)
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Source: Reuters
Trump to host Big Oil execs at White House to discuss market slump WASHINGTON (Reuters) - U.S. President Donald Trump will meet with oil company executives at the White House on Friday afternoon 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, imposing an import tariff on foreign crude oil or easing shipping regulations, 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 boost prices, the main hope for an ailing U.S. drilling industry that supported his presidential campaign. Friday’s meeting is expected to begin around 2 p.m. ET and include representatives from Exxon Mobil Corp ( XOM.N ), Chevron Corp ( CVX.N ), Occident
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