The Biden administration will work with the US Congress to reduce the influence of the Organization of the Petroleum Exporting Countries (OPEC) on global energy prices, White House National Security Advisor Jake Sullivan and National Economic Council Director Brian Deese said on Wednesday
WASHINGTON (Pakistan Point News / Sputnik - 05th October, 2022) The Biden administration will work with the US Congress to reduce the influence of the Organization of the Petroleum Exporting Countries (OPEC) on global energy prices, White House National Security Advisor Jake Sullivan and National Economic Council Director Brian Deese said on Wednesday.
"In light of today's action, the Biden Administration will also consult with Congress on additional tools and authorities to reduce OPEC's control over energy prices," the officials said in a joint statement.
The statement comes following a decision made by OPEC+ on Wednesday to cut oil production by 2 million barrels per day starting in November. The move was made in response to uncertainty in global oil market outlooks, OPEC+ said.
