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US again presses Opec+ as it weighs reserve release

Mount Equity Group Tokyo, Japan > News > Markets > US again presses Opec+ as it weighs reserve release

The White House on Friday pressed the Opec producer group again to maintain adequate global supply, days after US discussions with some of the world’s biggest economies over potentially releasing oil from strategic reserves to quell high energy prices.

The Biden administration has asked a wide range of countries, including China for the first time, to consider releasing stocks of crude.

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President Joe Biden faces slipping approval figures as Americans cite inflation as a growing problem.

White House spokeswoman Jen Psaki said the administration wants to  “ensure that the Opec member countries and Opec as an organization meets the demand needs that are out there with the adequate supply. That is something we’ve pressed them on in the past.”

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