(Bloomberg) -- Oil company executives reeling from a massive drop in prices were set to meet with President Donald Trump at the White House Friday as the administration seeks ways to help the beleaguered industry, according to four people familiar with the matter.
Executives from companies such as Exxon Mobil Corp. Chevron Corp., Occidental Petroleum Corp. and Continental Resources Inc. were said to be invited to the meeting, according to two of the people who spoke on background to discuss non-public matters.
Among the topics expected to be discussed are possible tariffs on oil imports into the U.S. from Saudi Arabia, and relief from the Jones Act that requires ships that transport goods between U.S. ports to be American flagged, according to a fifth person.
Representatives of the White House did not immediately comment.
Attendees represent companies across the oil industry, including independent producers such as Continental and Devon Energy Corp., at least one midstream pipeline operator, Energy Transfer Partners, and one refiner, Phillips 66, according to a fourth person familiar with the meeting. No independent offshore oil producers were invited to the summit.
The companies have advanced widely varying prescriptions for dealing with the glut of crude fed by the Russia-Saudi oil price war and collapsing demand from the coronavirus.
--With assistance from Stephen Cunningham.
To contact the reporters on this story:
Ari Natter in Washington at anatter5@bloomberg.net;
Jennifer A. Dlouhy in Washington at jdlouhy1@bloomberg.net;
Kevin Crowley in Houston at kcrowley1@bloomberg.net
To contact the editors responsible for this story:
Jon Morgan at jmorgan97@bloomberg.net
Elizabeth Wasserman
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