White House Stands by Calls for OPEC+ to Do More on Oil Prices

A White House official said the Biden administration was closely monitoring the cost of oil and gasoline and “using every tool at our disposal to address anti-competitive practices in U.S. and global energy markets to ensure reliable and stable energy markets.”

Reuters

The White House stands by its calls for oil-producing countries to “do more” to support the global economic recovery, an official said on Oct. 11, as crude prices hit multiyear peaks.

The official said the administration was closely monitoring the cost of oil and gasoline and “using every tool at our disposal to address anti-competitive practices in U.S. and global energy markets to ensure reliable and stable energy markets.”

It has raised the concern at a senior level with several members of OPEC and their allies, known as OPEC+, according to the official.

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