The oil market is resilient and will react positively to the attack on the Saudi Arabian oil industry, US Energy Secretary Rick Perry said on Monday, blaming Iran for the facts.
Rick Perry, United States Secretary of Energy. / Via REUTERS
Reuters | François Murph y Markus Wacket
Listen to this article
An attack on Saudi facilities this weekend closed 5 percent of global oil production and caused the biggest rise in oil prices since 1991, after US authorities blamed Iran and President Donald Trump said Washington was Now ready to retaliate.
"Despite Iran's evil efforts, we are very confident that the market is resilient and will respond positively," Perry said in a speech during the general conference of the International Atomic Energy Agency, which brings together its member states once a year.
Perry reiterated the position of the United States that it is prepared to release its Strategic Petroleum Reserve, which is equivalent to about a month of oil consumption in the United States, although he did not specify the likelihood of that happening.
"President (Donald) Trump has authorized the release of oil from the Strategic Petroleum Reserve if necessary. And my department is ready to respond," he said.
"The United States strongly condemns Iran's attack on Saudi Arabia and we call on other nations to do the same. This behavior is unacceptable. It is unacceptable and they should be held responsible. Make no mistake about it. This was an attack on the world economy and the global energy market. "
Germany believes that the decision to release reservations corresponds to IEA
The German government said Monday that its oil supply was not affected by the weekend's attacks against Saudi refineries and that any decision on releasing strategic reserves should be taken jointly with members of the International Energy Agency (IEA).
"We are closely monitoring the situation and the oil supply in Germany is not affected at this time," said a spokeswoman for the Ministry of Economy.
"Based on the information we have and what we have received from the Saudis, the refineries will only be closed for a few days or up to two weeks and we assume that it will not have a lasting effect on the world's oil supply," he said.
"The decision to release strategic oil reserves to compensate for global supply disruptions must be taken jointly with IEA members and, for the moment, there is no such consideration," he added.