From ThePostMillennial.com…
Despite pleas from the Biden administration, OPEC+ has no intention of bolstering its oil production further before 2022.
According to Reuters, OPEC+ leaders see no reason to ramp up oil production further. In July, they decided to boost output to 400,000 barrels per day back in August “until its current oil output reductions of 5.8 million BPD are fully phased out.”
The Biden administration released a statement Wednesday acknowledging its engagement with OPEC+ members to meet global energy demands.
“At a critical moment in the global recovery, this is simply not enough,” reads the White House issued statement. “Higher gasoline costs, if left unchecked, risk harming the ongoing global recovery.”
