Joe Biden Calls OPEC+ Oil Cuts 'Shortsighted,' Releases More Strategic Oil Reserves
The White House on Wednesday expressed its frustration that OPEC+ had decided to cut production and announced additional releases of America’s oil reserves in an attempt to keep prices low.
“The President is disappointed by the shortsighted decision by OPEC+ to cut production quotas while the global economy is dealing with the continued negative impact of Putin’s invasion of Ukraine,” read a statement from the White House on Wednesday after OPEC+ announced their decision to cut production by 2 million barrels per day.OPEC+ announced their decision three months after Biden personally met with leaders of Saudi Arabia to encourage them to boost production.