US Energy Secretary: US confident oil market to respond positively to attack on Saudi plants
  • ECONOMY

  • 04:31 17 September 2019

US Energy Secretary: US confident oil market to respond positively to attack on Saudi plants

 The United States is confident that the global oil market will respond in a positive manner to the recent drone strikes on Saudi facilities, US Energy Secretary Rick Perry said on Monday, ONA reports citing Sputnik.

"We are very confident that the market is resilient and will respond positively," Perry said in a tweet.

Oil prices soared after drones attacked Saudi oil processing facilities at Abqaiq and the Khurais over the weekend. The strikes knocked out 5.7 million barrels of daily crude production, representing 50 per cent of Saudi Arabia’s oil output and about 5 per cent of global supply.

On Saturday, an Energy Department spokesperson said the United States stood ready to deploy resources from the Strategic Petroleum Oil Reserves (SPRO) to offset any potential oil market disruptions. The official also said that Perry directed the department to work with the International Energy Agency on options for collective global action.

Faig Mahmudov

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