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📆 05/10/2022 02:44:00
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The United States is pushing OPEC+ nations not to proceed with potential deep oil output cuts, a source familiar with the matter told Reuters, as President Joe Biden seeks to prevent US gasoline prices from rising.

Washington is arguing to OPEC+ nations that economic fundamentals do not support an output cut, the source said.

“Of course we are always talking to all producers and consumers, including OPEC+ partners. That’s been the case for decades and across bipartisan administrations, including this one. We’ve been clear that energy supply should meet demand to support economic growth and lower prices for consumers around the world and we will continue to talk with our partners about that,” she said.

An increase in prices could serve to harm Democratic prospects in November 8 mid-term congressional elections.

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