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The current oil prices will allow the country to fill its national oil reserves first before seeking to export petrol.
The current oil prices will allow the country to fill its national oil reserves, U.S. President Donald Trump admitted Monday that he is considering halt on buying oil from Saudi Arabia.
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Within hours of the news that oil prices had fallen to negative values, Trump told a press conference that "we're going to think about that option."
The current oil prices will allow the country to fill its national oil reserves.
"Although the fall will not last long, producers need to push the market further to prevent cuts," he said.
Trump to consider halting Saudi oil imports, says U.S. has 'plenty' https://t.co/LPSiSSvpr3 #Trump #OilImport #SaudiArabia #UnitedStates
— JartoYA! (@JartoYa) April 21, 2020
The United States intends to put up to 75 million barrels in the country's reserves, according to local media.
This Monday, April 20, West Texas Intermediate (WTI) futures for delivery in May fell below $0 for the first time in history.
The negative oil price means that oil deposits are full and producers are forced to pay buyers to pick it up.
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