Home Economy US on oil production: ‘Supply must match demand’

US on oil production: ‘Supply must match demand’

0
US on oil production: ‘Supply must match demand’

USA consider that the proposal energy must “meet demand”, a veiled criticism of OPEC+ countries’ decision to cut production oil in order to maintain its price.

“The President (Joe Biden) has made it clear that supply must match demand in order to support economic growth and lower prices for consumers in America and around the world,” said White House Press Secretary Karin Jean, Pierre.

Washington has asked 13 countries of the Organization of the Petroleum Exporting Countries and 10 of its OPEC+ allies to increase production to lower energy prices that are fueling inflation that has reached its highest level in decades.

In his statement, the spokesman recalled that the White House made a “historic” decision to use strategic reserves, as well as a decision “in cooperation with allies” to impose a price ceiling on Russian oil to ensure that global supply is maintained. Karine Jean-Pierre also points out that the United States has increased its own oil production by half a million barrels per day since the beginning of the year.

Source: APE-MEB, AFP.

Author: newsroom

Source: Kathimerini

LEAVE A REPLY

Please enter your comment!
Please enter your name here