Trump opened the way to stabilize oil prices

President of the United States Donald trump opened the way to stabilize oil prices during a briefing in the White house. About it reports TASS.

According to him, the best way will be the resumption of economic activity in the United States. “The most powerful tool is to open our country”, — said the American President.

Previously, trump has promised to allocate additional money to support the oil industry in the US. He stated that he had instructed the energy Minister Dan Bruyette and Minister of Finance Steven Mnuchin to develop a plan that will provide funds to support the company and save jobs.

Monday, April 20, the price of the may futures for WTI was negative. For the first time in the history of the contract value fell to negative $ 40 per barrel. Falling prices contributed to the negative sentiment due to overcrowding of the oil reservoir due to low demand in a pandemic coronavirus. Experts do not exclude that the situation will worsen, and producers begin to pay customers to take the oil. However, trump expressed confidence that the fall in prices will be short, and within a month the price of oil could rise to 25 to 28 dollars per barrel.