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Trump to Meet With Oil Execs Friday - Report

·1 min read

By Kim Khan - President Donald Trump will meet with top oil company executive on Friday to discuss ways the industry can be assisted, The Wall Street Journal reported Wednesday.

Trump will host at the White House Exxon (NYSE:XOM) CEO Darren Woods, Chevron (NYSE:CVX) CEO Mike Wirth, Occidental (NYSE:OXY) CEO Vicki Hollub and Continental Resources (NYSE:CLR) CEO Harold Hamm, the Journal reported.

The industry has been hammered by the demand destruction caused by the Covid-19 pandemic and further pressure on prices from a market-share war between Saudi Arabia and Russia.

WTI futures fell about 1%. The government reported earlier that U.S. oil inventories soared by more than 10 million barrels last week.

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