Biden Admin Begs OPEC To Increase Oil Production
On Wednesday, the Biden administration released a statement pleading with OPEC to increase oil production so the United States could increase its import of oil to reduce gasoline costs, which have soared largely as a result of President Biden policies restricting domestic oil production. “Higher gasoline costs, if left unchecked, risk harming the ongoing global recovery. The price of crude oil has been higher than it was at the end of 2019, before the onset of the pandemic,” the statement said. “While OPEC+ recently agreed to production increases, these increases will not fully offset previous production cuts that OPEC+ imposed during