White House says plan to reduce oil stockpile would not harm US oil prices

WASHINGTON: The Trump administration's plan to halve the nation's emergency oil stockpile would not harm the domestic oil sector and could be done without a severe impact on prices, the White House's budget director said on Tuesday.

"If you do it slowly, if you telegraph it over the course of time, there's a way to do it without a dramatic impact on prices," White House Budget Director Muck Mulvaney told reporters at a White House briefing.