Trump authorizes u.S. oil reserves to support market

Trump authorizes u.S. oil reserves to support market

U.S. President Donald Trump has authorized the use of the U.S. oil strategic reserve if necessary. He announced this on his Twitter account.

The reason for this decision, the American leader called a possible fluctuation in oil prices because of the attack on the raw materials production sites in Saudi Arabia. The amount of oil allocated will be determined at a later date. According to Trump, such a move will help to keep the market in supply with raw materials.

Earlier it became known that oil rose by an average of 13 percent after the reduction of raw materials production in Saudi Arabia.

The fire in the territory of the national oil company Saudi Aramco became known on the morning of September 14. According to official data, the fire was caused by a drone attack, and Yemeni Houthi rebels claimed responsibility for the attack. Since then, Saudi Arabia has cut oil production in half.

U.S. Secretary of State Mike Pompeo accused Iran of an “unprecedented attack on the world’s energy supplies” and called on the international community to do everything to hold Tehran accountable. The Islamic Republic Foreign Ministry spokesman Abbas Mousavi rejected accusations that the country was involved in an attack on Saudi Arabia’s oil facilities.

ALSO READ:  NATO calls on Russia to stop provocations in the Black Sea