Coronavirus: US could store 'several hundred million' barrels of oil
Treasury Secretary Mnuchin looking for solutions as COVID-19 crushes demand
Image Credit: AP
Washington: President Donald Trump on Wednesday said his administration will soon release a plan to help US oil companies, which Treasury Secretary Steven Mnuchin said could include adding millions of barrels of oil to already-teeming national reserves, as the global coronavirus pandemic crushes demand for petrol.
“We’re also exploring potentially having the ability to store another several hundred million barrels, so we’re looking at lots of different options,” Mnuchin said during a White House briefing on the coronavirus’ effects on industry.