Secretary of Energy Rick Perry testifies during a House Energy and Commerce Committee hearing on Capitol Hill, October 12, 2017 in Washington, DC.
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U.S. Secretary of Energy Rick Perry said it is time to form a coalition of countries to address Iran’s activity.
“It is a time for a coalition of tame and thoughtful energy producing and energy consuming countries to come together and put a stop to Iran’s malign activity,” Perry told CNBC’s “Squawk on the Street” on Monday.
Perry comments follow a series of drone attacks on Saudi Arabia’s oil facilities that caused the largest disruption to the world oil supply in history. Over the weekend, an oil processing facility at Abqaiq and the nearby Khurais oil field was attacked, knocking out 5.7 million barrels, or half of daily crude production. This caused Brent crude futures and U.S. West Texas Intermediate (WTI) futures to surge.
Perry called the attacks a “deliberate attack on the global economy and the global energy market” this morning in Vienna.
On Sunday, President Donald Trump authorized the release of oil from the Strategic Petroleum Reserve (SPR), the nation’s emergency oil reserve.