Protect The Oil: Trump’s Top Priority In The Middle East | OilPrice.com:
Saudi Arabia and the United States will work together to protect the world’s oil supply from threats, the energy ministers of the two countries said after a meeting in Riyadh.
The Saudi Press Agency reported that the two officials had also discussed the role of OPEC and non-OPEC producers in securing the world’s energy needs, as well as ways to strengthen economic ties between the United States and Saudi Arabia.
The issue of oil supply security in the Persian Gulf and Saudi Arabia specifically came to the fore last month, after drone and missile attacks on a Saudi oil field and a processing facility took close to 6 million bpd in production capacity off the market, leading to a price spike and worry about supply.
At the time, Saudi Arabia and the U.S. blamed the attacks on Iran, which rejected the accusations. The Houthi rebels took responsibility for the attacks. This led to an increase in regional tensions, fueling more concern about the security of oil supply in one of the biggest producing regions.
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