White House got ‘heads up’ on OPEC cut plans, disagreed with move – US official – Reuters
- Date: 04-Apr-2023
- Source: Reuters
- Sector:Oil & Gas
- Country:Saudi Arabia
White House got ‘heads up’ on OPEC cut plans, disagreed with move – US official – Reuters
WASHINGTON, April 3 (Reuters) - The Biden administration told Saudi Arabia officials that it disagreed with OPEC’s surprise decision to cut oil production when it was given a ‘heads up’ on the move, John Kirby, coordinator for strategic communications at the National Security Council, told reporters on Monday.
Oil prices jumped over 6% on Monday after the Organization of the Petroleum Exporting Countries and their allies including Russia announced on Sunday further production target cuts of about 1.16 million barrels per day (bpd) from May through the rest of the year.
“We don't think that production cuts are advisable at this moment, given market uncertainty. And we made that clear,” Kirby said.
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