MOSCOW (Sputnik) – OPEC+ nations have not yet discussed Washington’s plan to call on the alliance of oil-exporting countries to increase output but consultations on the issue are not ruled out, a source in one of the delegations said on Wednesday.
The source also called against making quick conclusions on how the United States’ proposal will affect the oil market as “decision is not made yet.”
On Wednesday, US National Security Advisor Jake Sullivan said that the White House would urge OPEC+ members to boost oil production as gasoline prices rise.
The OPEC agreement on increasing production by 400,000 barrels per day, reached in July, is not sufficient in such a “critical moment” for the world economy, which is recovering from the COVID-19 aftermath, the official added.
Sullivan warned that “higher gasoline costs if left unchecked, risk harming the ongoing global recovery.”