2023-06-05 11:19:26
The White House: “We focus on prices, not barrels”
The White House announced that it will continue to work with producers and consumers to ensure energy markets support growth.
Commenting on the “OPEC +” decision to reduce production, he added, “The organization takes its own decisions.”
Yesterday, Sunday, a White House official said that US President Joe Biden’s administration is focusing on oil prices “and not on barrels” following the “OPEC +” alliance decided to make a significant cut in its crude production.
“We focus on prices for American consumers, not barrels (oil barrels), and prices have fallen dramatically since last year,” said the official, who asked not to be named.
He continued, “As we have said, we believe that supply must meet demand and we will continue to work with all producers and consumers to ensure that energy markets support (US) economic growth and lower prices for American consumers.”
The “OPEC +” alliance, which includes members of the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, decided on Sunday, following seven hours of talks, to cut the total production target for 2024 by an additional 1.4 million barrels per day.
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