Trump administration considers paying US oil producers to keep it in the ground

Published April 16, 2020 1:56am ET



The Trump administration is considering paying U.S. companies to keep the oil they produce in the ground to help alleviate a historic glut.

The Energy Department is weighing a plan to purchase oil from small and medium-sized shale companies struggling from a price collapse on the condition that the producers don’t extract or deliver the oil, people familiar with the matter told the Washington Examiner.

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