Trump Faces Bitterly Divided Oil Producers in Bid to Save Shale
- President to meet with oil and gas industry leaders Friday
- Oil lobby says output-cut plans could threaten free markets
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In Saudi Arabia, there is one oil company, the state-run behemoth Saudi Aramco. This makes for a fairly simple process to set policy goals when the country negotiates output quotas with rivals.
In the U.S., there are more than 6,000 oil drillers -- everything from tiny wildcatters in the shale patches of Texas and North Dakota to global giants like Exxon Mobil Corp.