Hoeven Continues Work to End Global Oil Price War

Senator Follows-up with Energy Secretary Brouillette on Latest Actions to Support Oil Industry

BISMARCK, N.D. – Senator John Hoeven, a member of the Senate Energy and Natural Resources Committee, released the following statement after again speaking with Energy Secretary Dan Brouillette about the importance of ending the global oil price war. Hoeven and Brouillette outlined important steps being taken to support the domestic oil and gas industry, including:

  • Pushing Saudi Arabia and Russia to end the global oil price war. The Secretary indicated that he has spoken with leaders for both countries about the need to reach an agreement that ends the oil price war. 
  • Utilizing the Strategic Petroleum Reserve (SPR) to not only help our producers through market disruptions, but also benefit taxpayers and our national security.
  • Encourage “Buy American” efforts to help our producers.

 “Energy producers in North Dakota and across the nation provide an essential service and make tremendous contributions to our economic and national security,” said Hoeven. “I again spoke with Energy Secretary Brouillette about the importance of putting an end to the global price war as soon as possible and doing all we can to support our domestic energy producers through the current market challenges. The Secretary made it clear that this is a priority, and we will continue working with the Administration to ensure that we stabilize the global oil market soon.”

Today’s call is the latest in Hoeven’s work with the administration and his Senate colleagues to help provide stability to global energy markets and bring an end to the global oil price war. The senator has raised the issue with President Trump, the Saudi Ambassador to the U.S. Princess Reema Bandar Al Saud and the Saudi Crown Prince Mohammad Bin Salman Al Saud. The senator has repeatedly stressed the economic impacts of COVID-19 and the importance of U.S. domestic energy production to the nation’s security.