WASHINGTON, April 4 — President Joe Biden today shrugged off a sharp output cut by Saudi-led Opec+ oil producers, while the White House criticised the move but said it would...
WASHINGTON, April 4 — President Joe Biden today shrugged off a sharp output cut by Saudi-led Opec+ oil producers, while the White House criticised the move but said it would be of limited impact on the US economy.
White House National Security Council spokesman John Kirby told reporters “we don’t think that production cuts are advisable at this moment, given market uncertainty.”A group of Opec+ countries, led by longtime close US ally Saudi Arabia, announced a surprise cut of one million barrels a day in a bid to boost prices.
Kirby said the situation had improved since production cuts a year ago that angered the Biden administration, which was struggling at the time to stem a politically sensitive surge in fuel prices across the United States.
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