Saudi Arabia sends tankers to US with pledge to bring down oil price Saudi Arabia has reportedly hired 11 supertankers capable of carrying 2m barrels of oil each in the last few days, which will set off for US ports in the Gulf of Mexico in the next few weeks. That compares to the one supertanker every two months sent to the US from Saudi last year, the Financial Times reported. President Barack Obama is under pressure to bring down the price of gasoline, one of the key issues for US voters, as he steps up his re-election campaign. The US economy is not "out of the woods yet" as rising petrol prices threaten to dent Americans' purchasing power, William Dudley, the head of the New York Federal Reserve, warned yesterday. The International Monetary Fund (IMF) has also warned that surging oil costs pose a serious risk to the global economy, threatening to smother expansion before a fresh cycle of growth is safely under way. "The world is not yet out of the danger zone," said Christine Lagarde, the IMF's managing director, speaking in Beijing at the weekend. The head of airline industry body, the International Air Transport Association (IATA), also warned today that airlines face bankruptcy if fuel prices rise further to $150 a barrel. "We cannot rule out the possibility of some bankruptcy, all regions will lose in this case, the most losses will be in Europe, but everywhere, there will be significant effects," said Tony Tyler.