The White House has called on Opec to boost oil production in an effort to curb high petrol prices that Biden administration officials say “risk harming the ongoing global recovery”.
Jake Sullivan, Joe Biden’s national security adviser, said in a statement on Wednesday that while Opec and its allies had “recently agreed to production increases”, the boost would “not fully offset previous production cuts that Opec+ imposed during the pandemic until well into 2022”.
“At a critical moment in the global recovery, this is simply not enough,” added Sullivan, saying that the US was “engaging with relevant Opec+ members on the importance of competitive markets in setting prices”.
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