ICYMI on Oil – U.S. shale industry and Saudi Arabia tell Trump they won’t boost output

The Wall Street Journal is gated, but if you can access it, the story is here:

U.S. Frackers and Saudi Officials Tell Trump They Won’t Drill More

• President says lower prices will solve many of the country’s problems but finds early resistance in the oil market

In brief:

• U.S. shale industry is now focused on keeping costs down and returning cash to investors, not more drilling
• Saudi Arabia says it is unwilling to augment global oil supplies, say people familiar with the matter

This article was written by Eamonn Sheridan at www.forexlive.com.