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Trump authorizes release of oil from US strategic reserves following attack in Saudi Arabia

2019-09-15T22:56:08.988Z

The president of the United States, Donald Trump, authorized on Sunday the release of the country's oil reserves so that, if necessary, they guarantee world supply, imp



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The president of the United States, Donald Trump, authorized this Sunday the release of oil reserves in the country so that, if necessary, they guarantee world supply, impacted by recent attacks against Saudi refineries.

"Based on the attack on Saudi Arabia, which may have an impact on oil prices, I have authorized the release of oil from the Strategic Petroleum Reserve, if necessary, in an amount that has yet to be determined and is sufficient to keep markets well stocked, "Trump said on Twitter.

The Department of Energy had already advanced in a statement that the US was "prepared" to take these measures in response to what happened in Saudi Arabia.

There, two Saudi refineries of the state oil company Aramco, the world's leading, were attacked with ten drones on Saturday , which has meant a reduction of about 50% in their production, although Riad has assured that it will meet the demand of its customers With inventories

The attacks were claimed by Yemeni Houthi rebels, supported by Iran; But, on Saturday, US Secretary of State Mike Pompeo directly held the Islamic Republic accountable.

Given the possible economic impact of these incidents, Washington has begun to coordinate with the International Energy Agency (IEA), an organization created after the 1973 oil crisis, to see what "possible options are available in case I need to take a global collective action, " said the US Department of Energy.

That department controls the Strategic Petroleum Reserve (SPR), which has the largest supply of crude oil for emergencies worldwide.

These oil reserves, owned by the US Government, are located in huge underground caverns on the coast of the Gulf of Mexico, specifically in the states of Texas and Louisiana.

That reserve was created in 1975 after the Arab oil embargo that raised prices and hurt the US economy. Its objective is to avoid future interruptions in the supply of crude oil and serve as a "foreign policy tool", according to the Department of Energy's website.

Currently, the US has 630 million barrels saved for emergencies, said a senior government official, who requested anonymity.

Since the attacks against Saudi refineries took place this Saturday, the Trump administration has taken an aggressive position, directly blaming Iran and supporting "the right of Saudi Arabia to defend itself."

Both Riyadh and Washington accuse Tehran of financing and arming the Houthi insurgents of Yemen in violation of the UN arms embargo, although the Iranian government defends that its only political and advisory.

The war in Yemen is the scene of a pulse of power between Tehran and Riyadh. The conflict intensified in March 2015 with the intervention of the Arab coalition led by Saudi Arabia and supported by the US against the Houthi rebels, who are backed by Iran.

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  • Donald Trump
  • U.S
  • Saudi Arabia
  • international

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