White House Welcomes OPEC’s Plans to Pump More Oil

The White House on Dec. 2 said it welcomed a decision by OPEC and its allies to incrementally increase oil output, but added that the U.S. has no plans to reconsider its decision to release crude reserves.

OPEC, Russia and allies, known as OPEC+, maintained an existing deal to increase output in January by 400,000 bbl/d after considering scrapping the plans.

“We appreciate the close coordination over the recent weeks with our partner Saudi Arabia, the UAE and other OPEC+ producers to help address price pressures,” said White House spokesperson Jen Psaki.