Trump says oil price rise after attack on Saudi plants 'not a problem'

WASHINGTON (Reuters) - U.S. President Donald Trump on Monday downplayed the impact of a spike in oil prices in the wake of the attacks on Saudi oil plants, saying prices had not risen much and that the United States and other countries could offset the increase by releasing more supply. 'They haven't risen very much and we have the strategic oil reserves, which are massive, and we can release a little bit of that, and other countries ..

Reuters September 17, 2019 02:07:11 IST
Trump says oil price rise after attack on Saudi plants 'not a problem'

Trump says oil price rise after attack on Saudi plants not a problem

WASHINGTON (Reuters) - U.S. President Donald Trump on Monday downplayed the impact of a spike in oil prices in the wake of the attacks on Saudi oil plants, saying prices had not risen much and that the United States and other countries could offset the increase by releasing more supply.

"They haven't risen very much and we have the strategic oil reserves, which are massive, and we can release a little bit of that, and other countries ... can be a little bit more generous with the oil, and you'd bring it right down," Trump told reporters at the White House as he met with Bahrain Crown Prince Salman bin Hamad al-Khalifa.

"That's not a problem," he said.

(Reporting by Steve Holland; Writing by Tim Ahmann)

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