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11/30/2021, 8:37 PM (Source: TeleTrader)
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Biden admin hopeful OPEC+ will release oil supplies

White House Press Secretary Jen Psaki expressed hopes that the OPEC+ alliance will release oil supplies in order to meet the demand.

In an audio-only transmission broadcasted on Tuesday, Psaki revealed the Biden administration is frustrated that the decline of oil prices wasn't followed by a drop in the prices of gasoline. The White House is in regular touch with OPEC+ countries, Psaki added.

Commenting on oil prices in the United States, Psaki concluded that she wasn't aware of any considerations of scaling back the planned release of 50 million oil barrels available from the Strategic Petroleum Reserve to help cool crude prices.

Baha Breaking the News (BBN) / ND