White House calls on OPEC+ to increase oil supply

White House calls on OPEC+ to increase oil supply

The U.S. authorities do not increase the volume of oil production in the country, since the relevant decisions are made by individual companies, Washington calls on OPEC + to expand supplies, White House principal deputy press secretary Karine Jean-Pierre told a briefing on Thursday.

"The U.S. operates on a competitive market system and individual companies make their own decisions. OPEC+ is the collection of countries that set supply levels themselves. They have the capacity and the power now to act and make sure this critical moment of global recovery is not impaired," she said.

"To be clear OPEC+ production is what impacts global oil prices, which is what has an affect on gas prices at home [in the U.S.]," she added.

On Thursday, the OPEC+ Joint Ministerial Monitoring Committee recommended that the alliance’s member states should stick to their plan of increasing oil production by 400,000 bpd in December, despite calls from importers, primarily the United States, to accelerate the supply to the market. The common position of Russia and Saudi Arabia was that it is no longer possible to increase oil production in the current environment due to reduced demand and a potential drop in prices.

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