Oil giants meet at White House amid talk of buying strategic reserves

Oil giants gathered at the White House Friday, meeting with President Trump in the hopes of securing aid as crude prices have plummeted amid the coronavirus outbreak and a price war between Russia and Saudi Arabia. Oil prices have skydived under the twin threats, dropping to prices in the mid-20s for a barrel of oil, down from more than $50 a barrel in February. As stresses on the industry magnify, there have been growing calls from Republicans to assist oil producers. “We’ll get our energy back,” Trump said at the meeting. “I’m with you 1,000 percent. It’s a great business, it’s a very vital business and honestly, you’ve been very fair. You’ve kept energy prices reasonable for a long period of time.” The meeting appeared to renew administration efforts to fill the nation’s oil reserves after the initial $3 billion request was left out of the coronavirus package...MORE