Trump pledges lifeline to US oil industry as prices fall below zero
by Jillian Ambrose from on (#52F8Y)
Producers forced to pay buyers to take barrels off their hands due to oversupply of crude amid coronavirus crisis
Donald Trump has promised to offer a financial lifeline to the US oil industry after prices turned negative for the first time ever.
The US president said he had instructed the treasury to help develop a funding plan for embattled oil producers, some of which were forced to pay buyers to take their oil earlier this week as market prices plunged to minus $40 a barrel.
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