Senior US government officials stated today, Wednesday, that the Biden administration is scrambling to convince Middle Eastern allies not to reduce oil production before an OPEC Plus alliance summit.
The Washington Post, an American newspaper, quoted US administration sources as saying that “the US administration is starting a last-minute campaign to urge Middle Eastern allies not to dramatically curtail oil production before a key OPEC Plus meeting.”
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The Oil Producers Association, he noted, “would severely curtail production because they are thinking about the largest decline in production since the beginning of the Corona virus outbreak.”
The US daily noted that the effort of US President Joe Biden’s administration, which comprises high-level conversations with his counterparts, is considered as a success “long-term endeavour
A senior official in the US administration, who asked to remain anonymous, stated, “We know that they will fall drastically,” saying that the price of oil had previously been 117 USD and 5.03 USD for gasoline, but was now 30 USD and 1.30 USD respectively.
The OPEC Plus decision may exacerbate inflationary pressures in the US and Europe, weaken attempts to support Ukraine, and allow Russia to sell oil at greater prices on the international market, according to the Washington Post.
The newspaper continued by stating that the OPEC Plus oil production cut may also have a significant impact on American politics, which are about to hold the midterm elections, as the summer’s decline in gas prices significantly improved the political fortunes of the Democrats, who are dealing with a challenging election season.
According to Karen Jean-Pierre, a spokeswoman for the White House, “the United States will continue to take efforts to protect American consumers.”
Pierre noted that “energy prices have fallen sharply from their high levels and American consumers are paying much less at the pump than they used to,” adding that “our focus has been very clear over the past several months on taking every step to ensure that the markets are supplied with enough to meet the demand of the growing global economy.
Officials from the United States: The Biden administration is attempting to convince its partners in the Middle East not to cut back on oil production.
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