I have authorized the release of oil from the Strategic Petroleum Reserve: Trump

Arhama AltafWeb Editor

16th Sep, 2019. 05:42 pm
Lawyers in senate representing US President have started defending themselves of the President in his impeachment trial.

President Donald Trump took a big step to authorize the release of oil from US strategic reserves after drone attacks on Saudi Arabia’s Abqaiq plant.

In a tweet, Trump wrote, “Saudi Arabia oil supply was attacked. There is reason to believe that we know the culprit, are locked and loaded depending on verification, but are waiting to hear from the Kingdom as to who they believe was the cause of this attack, and under what terms we would proceed!”

He further added, “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.”

On the other hand, Saudi Arabia has also raced to restart operations at oil plants hit by drone attacks which slashed its production by half.

On Sunday, it was reported that Aramco will dip into its reserves to offset the disruption, but the incident could affect investor confidence as its stock market debut looms.

Earlier, Drone attacks have set Saudi Arabia’s two major oil facilities of Aramco on fire.

According to the details, First drone hit Abqaiq, site of Aramco’s largest oil processing plant, while a second drone attack started fires in the Khurais oilfield.

Security teams had controlled the fire, which caused massive loss.

Drone attacks were verified by the interior ministry of Saudi Arabia.

Saudi officials had not yet commented on who could be behind the attacks.

Aramco says Abqaiq plant is the world’s largest “crude oil stabilization plant”. Abqaiq plant was also targeted by Al-Qaeida in 2006.

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