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Trump authorizes release of US oil reserves if needed because of Saudi attacks

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US President Donald Trump said on Sunday he authorized the release of oil from the US Strategic Petroleum Reserve (SPR) if needed in a quantity to be determined because of Saturday's attack on Saudi Arabia’s oil facilities.

“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 needed, in a to-be-determined amount sufficient to keep the markets well-supplied,” Trump said on Twitter.



“I have also informed all appropriate agencies to expedite approvals of the oil pipelines currently in the permitting process in Texas and various other States.”

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The United States has more than 640 million barrels of oil in reserve that could offset tighter supply as a result of the Saudi attacks.