Donald Trump downplays historic oil price drop as a ’short term’ problem

US president Donald Trump has sought to downplay the oil price crash as the market collapsed into negative territory. ‘It’s for the short term. A lot of people got caught’, Trump said during his daily coronavirus briefing. He added: ‘Nobody’s ever heard of negative oil before,’ before reassuring that ‘it’s for a short term’. North America’s oil producers have run out of space to store an unprecedented oversupply of crude left by the reduced demand during the pandemic. Trump says he will look into stopping oil shipments from Saudi Arabia, and that his administration will either ask Congress for permission to buy oil, ‘or we will store it’
Oil prices dip below zero as producers forced to pay to dispose of excess
Over a barrel: how oil prices dropped below zero
Coronavirus live news: Trump downplays oil crash as ‘short term’

In This Story: Donald Trump

Donald John Trump is the 45th and current president of the United States. Before entering politics, he was a businessman and television personality. Trump was born and raised in Queens, a borough of New York City, and received a bachelor’s degree in economics from the Wharton School.

5 Recent Items: Donald Trump

  • L&C Daily: Alleged Capitol Rioters Argue Trump Invited Them In. Will This Defense Hold Up at Trial?
  • NBC Nightly News Broadcast (Full) – January 19th, 2021 | NBC Nightly News
  • ‘One Day More’ of President Trump – Les Misérables parody
  • Tucker: McConnell reportedly preventing potential Assange pardon
  • Biden Team Hints at Keeping Trump’s Tough Line Toward China
  • In This Story: Saudi Arabia

    Saudi Arabia, officially the Kingdom of Saudi Arabia, is a country in Western Asia constituting the bulk of the Arabian Peninsula.

    Saudi Arabia also has one of the world’s youngest populations, with approximately 50 percent of its population of 34.2 million being under 25 years old.

    2 Recent Items: Saudi Arabia

  • Saudi crown prince courts a wary Biden
  • Families reunite as Qatar-Saudi flights resume
  • Leave a Comment