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Shale chiefs warn Trump that Venezuelan oil will hobble US drillers

President’s effort to drive down crude prices will hit sector struggling to sustain output growth

US shale bosses have warned Donald Trump that his mission to seize Venezuela’s oil sector and drive down crude prices will put American output on the chopping block.

Trump is set to meet US Big Oil chiefs on Friday, but executives at large independent drillers — who are not on the attendee list — are seething over the president’s plan to flood America with Venezuelan crude.

“We’re talking about this administration screwing us over again,” said a top executive at one of the country’s leading shale groups, describing the plans as “against American producers”.

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