Last month it extended that historic sale into November as only about 155 million barrels had been sold. "The President is disappointed by the shortsighted decision by OPEC+ to cut production quotas while the global economy is dealing with the continued negative impact of (Russian President Vladimir) Putin’s invasion of Ukraine," national security adviser Jake Sullivan and National Economic Council Director Brian Deese said in a statement.īiden warned that he will now continue to direct releases from the nation's Strategic Petroleum Reserve "as necessary," a shift from the White House's previous comments that it would end the drawdown in the coming weeks.Įarlier this year, the Biden administration announced the largest sale ever from the reserve: 180 million barrels for six months beginning in May. The move drew a sharp response from Biden that underscores the growing rift between the United States and Saudi Arabia on energy policy. The Saudi Arabia-led OPEC+ cartel at a Vienna meeting on Wednesday ignored pleas from the White House to keep oil flowing and agreed to cut output by 2 million barrels per day, its deepest cuts in production since the 2020 COVID-19 pandemic. energy production and reduce OPEC's control over energy prices after the cartel's "shortsighted" production cut, the White House said on Wednesday. WASHINGTON (Reuters)-President Joe Biden called on his administration and Congress to explore ways to boost U.S.
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