Larry Kudlow Says Oil Will Bounce Back as Lockdowns Lift and Economy Restarts

Director of the Economic Council Larry Kudlow speaks during the Wall Street Journal CEO Council, in Washington, on Dec. 10, 2019. Al Drago/Reuters

White House economic advisor Larry Kudlow told CNBC on Wednesday that he expects the price of oil to rebound in the next few months as states lift lockdowns and the economy begins to recover.

“I’m hoping that this oil slump will prove to be temporary,” Kudlow said in the interview. “Not many people are driving right now, as you know, and there’s a glut of oil.”