US President Donald Trump is set to hold emergency talks with top oil industry executives in a bid to mitigate the effects of a potential oil shortage on the global market. The meeting comes as the US tightens its economic blockade on Iran, following the country's alleged involvement in a tanker attack in the Gulf of Oman. The US has imposed sanctions on Iranian oil exports, which are expected to significantly reduce global oil supplies. As a result, oil prices have skyrocketed, sparking concerns of a global economic downturn.
US President Trump meets with oil firms over ways to minimise impact on fuel supplies amid US blockade of Iranian ports.
