Trump thought about the ability to pay oil companies for refusing production
The white house is considering to pay American oil companies for refusing production.
The administration of the President of the United States Donald trump is considering how to pay American producers for the fact that they leave oil in the ground to help alleviate a glut that caused prices to fall and prompted some drillers into bankruptcy. About it reports Bloomberg.
The Department of energy has developed a compensation plan for the companies that use the oil reserves of 365 million barrels by effectively transforming this unused parts in the inventories of the U.S. government in the event of emergency situations, said the Agency an unnamed senior administration officials.
Previously, trump said that normalize the oil industry. This helped the American President, Russia and Saudi Arabia. The industry will recover quickly after experiencing a coronavirus, a sure trump.
As you know, the final agreement OPEC+ involves the reduction of oil production by 10 million barrels per day, and 9.7 million because of the position of Mexico. Also 300 thousand less will be the reduction throughout all stages of a two-year agreement.
Mexico agreed to reduce production at 100 thousand barrels per day and 250 thousand barrels for it will reduce the United States.
Despite the deal, oil prices fall.
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