WASHINGTON (Reuters) – President Donald Trump said on Monday that his administration was considering the possibility of stopping incoming Saudi Arabian crude oil shipments as a measure to support the battered domestic drilling industry.
U.S. President Donald Trump addresses the daily coronavirus task force briefing at the White House in Washington, U.S., April 20, 2020. REUTERS/Jonathan Ernst
“Well, I’ll look at it,” Trump told reporters at a daily news conference after he was asked about requests by some Republican lawmakers to block the shipments under his executive authority.
Trump said he had heard the proposal immediately before the news briefing. “We certainly have plenty of oil, so I’ll take a look at it,” he said.
U.S. crude oil futures collapsed to trade in negative territory for the first time in history on Monday, amid a