![]() OPEC+ is scheduled to hold another meeting on Sept. OPEC+ agreed in July to boost output by 400,000 bpd a month starting in August until the rest of the 5.8 million bpd cut is phased out. ![]() ![]() But it has gradually raised output since, with the cut eased to about 5.8 million bpd as of July. The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, had implemented a record output cut of 10 million barrels per day, about 10% of world demand, as global energy demand slumped during the pandemic. "At a critical moment in the global recovery, this is simply not enough," Sullivan said in a statement. ![]() The request reflects the White House's willingness to engage major world oil producers for more supply to help industry and consumers, even as it seeks the mantle of global leadership in the fight against climate change and discourages drilling at home.īiden's national security adviser Jake Sullivan criticized big drilling nations, including Saudi Arabia, for what he said were insufficient crude production levels in the aftermath of the global COVID-19 pandemic. President Joe Biden's administration on Wednesday urged OPEC and its allies to boost oil output to tackle rising gasoline prices that they see as a threat to the global economic recovery. ![]()
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