White House could store huge quantity of oil: Mnuchin

White House could store 'several hundred million' barrels of oil: Mnuchin

Treasury Secretary Steven Mnuchin. (AFP file photo)

President Donald Trump on Wednesday said his administration will soon release a plan to help U.S. oil companies, which Treasury Secretary Steven Mnuchin said could include adding millions of barrels of oil to already-teeming national reserves, as the global coronavirus pandemic crushes demand for gas.

"We're also exploring potentially having the ability to store another several hundred million barrels, so we're looking at lots of different options," Mnuchin said during a White House briefing on the coronavirus' effects on industry.