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Bloomberg: Middle East oil is irreplaceable and Trump is wrong

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Bloomberg considered that US President Donald Trump was wrong when he made resounding statements last week, saying that the United States does not need Middle East oil.(Bloomberg)

As evidence of this, the agency said that the United States still imports varieties of crude oil from Iraq and Saudi Arabia, and that American oil refineries need Middle East oil to refine it and manufacture products that its customers demand.

Also, any disruption in crude supplies coming from the Middle East will lead to higher fuel prices at gas stations in the United States.

Trump made the remarks during a speech at the White House after Iran fired missiles at two air bases in Iraq that are being used by US forces, raising fears of an escalation of attacks on major oil infrastructure in the Gulf region, including the possibility of blocking the flow of supplies across the Strait of Hormuz .

Despite the serious repercussions that might occur from obstructing oil
supplies from the Middle East to the United States, Bloomberg said that
small quantities are exported from the Gulf region to refineries in the
United States, since in 2019 it was less than 5% of the supplies that pass
through Hermes.

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