WASHINGTON, Oct 5 ― The United States is pushing Opec+ nations not to proceed with potential deep oil output cuts, a source familiar with the matter told Reuters, as President Joe Biden seeks to prevent US gasoline prices from rising.
Opec+, which includes Saudi Arabia and Russia, is working on cuts in excess of 1 million barrels per day, sources told Reuters this week. The cuts could spur a recovery in oil prices.“We are not going to comment on any Opec action until Opec acts,” said Adrienne Watson, spokesperson for the National Security Council.
Biden has been grappling with gasoline prices all year. After a spike, they have gradually come down and his administration has touted this as a major accomplishment.
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