President Donald Trump gave the strongest signal yet the U.S. might not join Saudi Arabia, Russia and other major producers in coordinated oil-production cuts, even as plunging crude prices put thousands of American shale jobs at risk.
While OPEC and its allies prepare for a meeting on Thursday to forge an unprecedented output-cut deal, Trump told reporters in Washington that the free market would work to curb American production.
“I think the cuts are automatic if you are a believer in markets,” he said, echoing comments he made last week after a meeting with several oil industry titans ended without a public plan for addressing the oil market’s historic crash.
