Reuters file photo: US National Security Adviser Jack Sullivan attends a news briefing at the White House in Washington on August 17, 2021.
By Trevor Hunicut
WASHINGTON (Reuters) – A senior aide to President Joe Biden raised the issue of oil prices in talks this week with the leadership of top crude producer Saudi Arabia, the White House said.
Biden’s national security adviser Jack Sullivan met in Saudi Arabia on Tuesday to discuss the war with Saudi Crown Prince Mohammed bin Salman https://www.reuters.com/world/white-house-aide-discusses-yemen-with-saudi -Crown-Prince-Yemen 2021-09-28. But White House press secretary Jane Sackie said oil was also “of concern” and on the agenda.
“The National Security Adviser and his team reiterated at their meeting earlier this week the need to create the conditions for assistance in the global economic recovery,” another White House spokesman said Thursday.
The Biden administration has previously said that such conditions include having more oil on the market to stop fuel prices and help the economy recover from the Kovid-1 pandemic epidemic.
“The United States is talking with international partners, including OPEC, about the importance of a competitive market in pricing and doing more to recover,” the spokesman said.
The Organization of the Petroleum Exporting Countries and its allies, including Russia, a group known as OPEC +, are expected to https://www.reuters.com/business/energy/opec-seen-sticking-november-output-plans-despare-80- oil -2021-09-2 next Next week in November there will be an agreement to add 1,000,000,000 barrels per day to their production.
But four sources told Reuters that the group, heavily influenced by Riyadh, was considering https://www.reuters.com/business/energy/opec-considers-options-releasing-more-oil-market-sources-2021 -09-30a Scenario where they can increase production by November to meet significant demand.
Benchmark traded at international prices https://www.reuters.com/business/energy/oil-falls- after-us-inventories-post-surprise-gain-2021-09-30 Thursday at a three-year high of .5 78.52 a barrel, in the US The average price of petrol is about a dollar more per gallon than a year ago.
This pressure comes from the White House even as the administration insists on fighting the effects of climate change, which is caused by the burning of fossil fuels.
Yet rising prices for many goods and services have threatened to undermine the economic recovery of Biden, the president’s main focus.
Fusion Media Or anyone involved with Fusion Media will not assume any liability for loss or damage as a result of relying on the information contained in this website, including data, quotes, charts and buy / sell signals. Please be fully aware of the risks and costs associated with trading in the financial markets, this is one of the potential risky investment forms.