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The U.S. Energy Department is negotiating with nine companies to rent about 23 million barrels of oil storage capacity in its Strategic Petroleum Reserve as part of a Trump administration bid to help drain the country’s growing glut of crude.

Diesel fuel prices continued their steady downward slide April 13, according to the Energy Information Administration.

OPEC, Russia and other oil-producing nations on April 12 finalized an unprecedented production cut of nearly 10 million barrels, or a tenth of global supply, in hopes of boosting crashing prices amid the coronavirus pandemic and a price war, officials said.

Mexico says it has reached an agreement with the United States that will allow it to agree to a deal on production cuts with OPEC, Russia and other countries.

The nationwide average retail price of diesel fuel declined by almost 4 cents per gallon on April 6, knocking trucking’s main fuel more than 50 cents lower than the same time a year ago.

Experts indicate the coronavirus pandemic will have a significant negative effect on state revenue, including funding that supports transportation projects.

A court in the United Kingdom ruled that Volkswagen AG used a so-called defeat device to help its diesel vehicles beat emissions tests, a decision that allows 91,000 customers to proceed with a class action against the carmaker.

Oil soared after President Trump said that he expects Saudi Arabia and Russia to cut output back by 10 million barrels or more after he spoke with Crown Prince Mohammed Bin Salman.

Oil tanks at one of the world’s largest storage hubs on Africa’s southern tip already are almost full, limiting traders’ options as a historic flood of crude hits the market.

President Donald Trump said the U.S. would meet with Saudi Arabia and Russia with the goal of stanching a historic plunge in oil prices.