The White House said OPEC+’s insistence on not increasing production puts the global economic recovery at risk.
The White House said that OPEC+’s insistence on not accelerating production growth puts the global economic recovery at risk and stated that the United States is ready to use all necessary tools.
OPEC turned a deaf ear to the warnings of increasing oil production from many countries and decided to continue its current supply increase plan.
“OPEC+ does not seem to want to use all the capacity and power at its disposal at a time when the global recovery is at a critical stage,” said Biden’s spokesman for the National Security Council. “We think that the global recovery should not be damaged by supply and demand imbalances,” adding that the White House is considering all means to combat high prices.
US President Joe Biden blamed Russia and Saudi Arabia for oil production restrictions and the rise in oil prices in the US.
Russia Does not Want to Increase Oil Production
Russian Deputy Prime Minister Aleksandr Novak stated that the recovery in the global oil markets continues. However, they still see various risks, and they do not want to increase oil production further. Pointing out that they are aware of the recovery in the market, Novak said, “We also supply additional oil to the market.
At the same time, as you know, oil demand is expected to decline in the fourth quarter due to seasonal factors. “We witnessed a decline in oil demand in Europe in October,” he added.
