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

File photo of US President Donald Trump speaking to the press on the South Lawn of the White House. (AFP)

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.

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Last Update: Wednesday, 20 May 2020 KSA 10:00 - GMT 07:00
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