The White House said on Monday (7/18), that it predicts that the main producers of Petroleum of the OPEC+ alliance to increase production, after US President Joe Biden's trip to the Middle East.
“We will measure success in the coming weeks. We anticipate it will be an increase in production, but that will take the next two weeks, and that will depend on OPEC+,” White House spokeswoman Karine Jean-Pierre told a news conference.
The White House committee along with Biden traveled to Saudi Arabia last week, where they met with that country's leadership and other members of the Gulf Cooperation Council in the oil-rich Middle East.
The Biden administration is under pressure to cut gas prices and other consumer costs ahead of the Nov. 8 midterm elections, in which his Democratic Party seeks to retain control of Congress.
Oil prices soared to their highest levels since 2008, rising above $139 a barrel in March after the United States and Europe imposed sanctions on Russia for its invasion of Ukraine, which Moscow calls a "special military operation". ”. Prices have dropped since then.
OPEC+, which includes Saudi Arabia and Russia, will meet on August 3.
Sources: investing.com
