US President Donald Trump has authorized the use of oil from the national Strategic Petroleum Reserve to stabilize the market in the wake of attacks on oil facilities in Saudi Arabia.
"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," the US president stated in his Twitter account, TASS reports.
"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," the US president added.
The United States is ready to respond to the attacks on oil facilities in Saudi Arabia, but are waiting for the Kingdom to announce who was behind the attacks, US President Donald Trump stated in his Twitter account.
"Saudi Arabia oil supply was attacked," Trump stated. "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!"
The Wall Street Journal reported on Sunday citing its source in the government of Saudi Arabia that the country’s national oil company, Saudi Aramco, believed to restore approximately one third of the disrupted crude output by Monday night. The company was reported to have lost 5.7 million barrels per day of output following the strikes of unmanned aerial vehicles.
Saudi Aramco facilities in the east of Saudi Arabia were attacked by ten drones in the early hours on Saturday, September 14. Yemeni Houthi rebels from the Ansar Allah movement have claimed responsibility for the incident.
The world’s biggest crude-processing facility near the city of Abqaiq and a refinery near Khurais, where the kingdom’s second-biggest oil field is located, came under the attack, which was followed by a huge fire. Later, the authorities reported that the fire had been localized.
Following the incident, US Secretary of State Michael Pompeo accused the Iranian authorities of being behind these attacks, saying there were no evidence they had originated from Yemen.
The Iranian foreign ministry dismissed Pompeo’s allegations as groundless.