US shale sector collapses: Trump talks about leveling oil bill

US President Donald Trump is ready to once again use the mechanisms that have already been tested in China.

US shale sector collapses: Trump talks about leveling oil bill

As News Front previously reported, the spread of coronavirus infection COVID-19 led to a reduction in oil demand, which, together with an overestimated supply, provoked a collapse in prices. An attempt to limit the extraction of raw materials within OPEC also failed. So in the world the fourth oil war began in the last 35 years.

For the United States, the situation is aggravated by the fact that a significant part of US oil production is the shale segment, which becomes unprofitable in the face of a collapse in prices. The situation has reached the point that there is no room left in the American oil storage facilities, and the miners are ready to pay extra for the “buyer” to take out the raw materials.

In this regard, Donald Trump did not rule out the possibility that the US administration would introduce customs duties on Russia and Saudi Arabia. According to him, this can happen if the oil war drags on.

Trump lamented that the United States is “unfair.” At the same time, he called the duties “a way to even the score”.

“Fees allowed us to make great money when I introduced them against China,” Trump said. – Do I use them in the oil sector? We are capable of it. Am I doing this at the moment? No. Am I considering this at the moment? No. However, if we face injustice, it will definitely become one of our tools. ”


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