Trump Rejects Need for Curbs on Oil Exports After Trade Surge

President Donald Trump said there’s no need for curbs on US oil or jet fuel exports to address global shortages sparked by the war with Iran.

“We don’t need them,” he told reporters Thursday in Washington. “And we have tremendous amounts of oil.”

Blockages to the vital Strait of Hormuz have driven a massive jump in US energy exports, propelling the US above Saudi Arabia as the world’s top exporter of crude oil.

But experts have also been warning that the US supply cushion is being pushed to its limits and it’s unclear how long exports can be sustained at ...