New information from the United States of America, the US President announced next month will sell more oil in the reserve to prevent gasoline prices from rising again.
OPEC+ announced to reduce production by an additional 2 million barrels per day, starting from November 2022.
US President Joe Biden said November will sell 10 million barrels of oil in the Strategic Petroleum Reserve.
OPEC+ production cuts will restore market share to top oil producing countries like Saudi Arabia or Russia.
Vietnam due diligence services – Reduced production could also cause gasoline prices to rise again globally.
Yesterday, the White House expressed dissatisfaction with the decision of OPEC +.
Jake Sullivan and Brian Deese wrote: “The President is disappointed by the short-sighted vision of OPEC+.”
Low- and middle-income countries around the globe will be hardest hit by the drop in oil supplies.
The US president also went on to call on US energy companies to lower gasoline prices by closing “the record gap between current wholesale and retail gasoline prices”.
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