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US pushing OPEC+ not to cut oil output

5 October 2022 21:13 (UTC+04:00)
US pushing OPEC+ not to cut oil output

By Trend

The United States is pushing OPEC+ nations not to proceed with potential deep oil output cuts, a source familiar with the matter told Reuters, as President Joe Biden seeks to prevent US gasoline prices from rising, Trend reports.

Washington is arguing to OPEC+ nations that economic fundamentals do not support an output cut, the source said.

OPEC+, which includes Saudi Arabia and Russia, is working on cuts in excess of 1 million barrels per day, sources told Reuters this week. The cuts could spur a recovery in oil prices.

The White House declined to comment.

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