The most recent collapse in crude oil prices has been driven by an emerging lack of storage for oil in the face of slumping demand. There are several options for limiting U.S. imports and mitigating the impact on U.S. oil drillers. President Donald Trump has called for the Treasury and Energy departments to “formulate a plan which will make funds available” to the sector. The administration has also instructed Chevron to end its business in Venezuela. Chevron hasn’t imported oil to the U.S. from Venezuela in 2020, and there has also been a 29.0% slide in imports link...
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