Markets
Trump Exhorts Allies to Buy American First to Solve Oil Glut
- White House eyes encouraging allies to prioritize U.S. oil
- Effort comes amid limited options for aiding U.S. producers
Photographer: Daniel Acker/Bloomberg
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The Trump administration has a plan for helping drain U.S. storage tanks filling up with crude: Persuade other countries to buy those American barrels first.
That “Buy American” pitch is coming in the form of administration officials exhorting foreign allies to prioritize U.S. crude. The effort involves both the departments of Energy and State, said two people familiar with the matter who asked not to be named discussing administration strategy.