LAST UPDATE: 23.44
The United States has asked some of the world’s largest oil consumers to consider releasing some of their crude reserves in a concerted effort to cut prices and boost economic recovery, according to Reuters, citing insiders. .
World oil prices hit a seven-year high in late October as people around the world returned to the streets and while supply did not keep pace with demand. OPEC +, however, is resisting pressure from US President Joe Biden to accelerate supply growth.
In recent weeks, Biden and his top aides have raised the issue with close allies, including Japan and China, sources said.
Sources warned, however, that such negotiations have not been finalized or a final decision has been made on whether to pursue this or any other course of action.
The White House declined to comment on the content of talks with other countries. “No decision has been made,” said a White House National Security Council spokesman.
He added that the White House has been saying for weeks that it is “talking to other countries to ensure that global energy supply and prices do not jeopardize the global economic recovery. There is nothing to mention other than continuous talks and look at a range of tools for if and when action is needed. ”
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Source From: Capital
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