On Monday, an official of the White House said that the US is persisting in calling OPEC+ to act more regarding the global oil prices.
The Organization of the Petroleum Exporting Countries and its allies (OPEC+) has maintained its limited oil supply although it has agreed to ease the cut.
Still, the global oil prices have been at the highest level since 2018 as the global demand has rebounded faster than expected. Moreover, some consumers are switching to crude from gas on the back of soaring gas prices.
At the moment, the Biden administration is closely monitoring the prices of oil and gasoline. The White House is adamant in taking acts to address anti-competitive practices in the US along with the global energy markets to secure a reliable and stable market.
