May 23, 2017 / 4:07 PM / 3 months ago

W.House says plan to reduce oil stockpile would not harm U.S. oil prices

WASHINGTON, May 23 (Reuters) - 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. (Reporting by Roberta Rampton; Writing by Susan Heavey; Editing by Chizu Nomiyama)

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