HOUSTON (Bloomberg) --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.
That would seem to make formulating a coherent U.S. negotiating
stance next to impossible. And yet, President Donald Trump appears to be
intent on seeking to broker a dramatic cut in output along with Saudi
Arabia and Russia to prop up plunging prices.
https://www.worldoil.com//news/2020/4/3/trump-faces-bitterly-divided-companies-in-his-bid-to-save-shale?id=31307113
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