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Biden Says US Has Means To Respond To OPEC + Decision | Crédits photo : Shutterstock
WASHINGTON, Nov. 6 (Reuters) – The US administration has the means to cope with rising energy prices, Joe Biden said on Saturday after OPEC and its allies decided not to raise production than 400,000 barrels per day in a context of imbalance between supply and demand in the world.
“There are other tools in the arsenal that we must use with other countries at the appropriate time,” the US president told reporters, in response to a question about a possible green light from the US administration for the use of strategic reserves.
The Organization of the Petroleum Exporting Countries and its allies united in OPEC +, foremost among which is Russia, agreed on Thursday to stick to their production quota, ignoring calls from the United States for a more marked increase in order to lower crude prices, according to a source informed of the decision.
A barrel of oil has exceeded 80 dollars in the markets, which is reflected in the prices at the pump for American consumers.
“I don’t expect OPEC to respond (to demand), Russia and / or Saudi Arabia to respond,” Joe Biden said. “They’re going to pump some more oil. Whether they’re pumping enough oil is another story.”
The US president said his administration would discuss the matter: “We can get more energy from pipelines figuratively literally,” he said. (Report Timothy Gardner; French version Claude Chendjou, edited by Sophie Louet)
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