U.S. President Donald Trump said Tuesday that he had instructed the Cabinet to draw up a plan for recovery of the coronavirus-hit oil and gas sector after Monday’s historic losses.

“We will never let the great U.S. Oil & Gas Industry down,” Trump said on Twitter. “I have instructed the Secretary of Energy and Secretary of the Treasury to formulate a plan which will make funds available so that these very important companies and jobs will be secured long into the future!”

Following the oil price crash, U.S. stocks on Tuesday came under renewed pressure and opened down.


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