{"id":322080,"date":"2021-08-11T22:27:00","date_gmt":"2021-08-11T19:27:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/biden-says-opec-must-raise-oil-output-to-lower-prices-for-consumers\/"},"modified":"2021-08-11T22:27:00","modified_gmt":"2021-08-11T19:27:00","slug":"biden-says-opec-must-raise-oil-output-to-lower-prices-for-consumers","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/biden-says-opec-must-raise-oil-output-to-lower-prices-for-consumers\/","title":{"rendered":"#: Biden says OPEC must raise oil output to \u2018lower prices for consumers\u2019"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a412726e4b4c\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a412726e4b4c\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/biden-says-opec-must-raise-oil-output-to-lower-prices-for-consumers\/#President_%E2%80%98I_want_to_make_sure_that_nothing_stands_in_the_way_of_oil-price_declines_leading_to_lower_prices_for_consumers\" >President: \u2018I want to make sure that nothing stands in the way of oil-price declines leading to lower prices for consumers\u2019<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/biden-says-opec-must-raise-oil-output-to-lower-prices-for-consumers\/#Victor_Reklaitis\" >Victor Reklaitis<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#: Biden says OPEC must raise oil output to \u2018lower prices for consumers\u2019<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"President_%E2%80%98I_want_to_make_sure_that_nothing_stands_in_the_way_of_oil-price_declines_leading_to_lower_prices_for_consumers\"><\/span>\n  President: \u2018I want to make sure that nothing stands in the way of oil-price declines leading to lower prices for consumers\u2019<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000371905\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0000371905\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       President Joe Biden on Wednesday afternoon added to the pressure on the Organization of the Petroleum Exporting Countries, after one of his top advisers said earlier in the day that OPEC and its allies \u201cmust do more\u201d to support the economic recovery.<\/p>\n<p> \u201cRecently we\u2019ve seen the price that oil companies pay for a barrel of oil begin to fall, but the cost of gasoline at the pump for more American people hasn\u2019t fallen,\u201d Biden said in a speech at the White House. \u201cThat\u2019s not what you\u2019d expect in a competitive market. I want to make sure that nothing stands in the way of oil-price declines leading to lower prices for consumers.\u201d <\/p>\n<div class=\"paywall\">\n       \u201cSo today, my director of the National Economic Council has asked the chair of the Federal Trade Commission to use every available tool to monitor the U.S. gasoline market and address any illegal conduct that might be contributing to price increases at the pump while the cost of barrel oil is going down,\u201d the president added. \u201cWe also made clear to OPEC \u2014- the major oil exporting nations of the world \u2014 that the production cuts made during the pandemic should be reversed as the global economy recovers, in order to lower prices for consumers.\u201d<\/p>\n<p>Oil futures<br \/>\n        CL00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209723049\/delayed\" class=\"positive\">+1.44%<\/bg-quote><br \/>\n       recently traded higher, but they had retreated earlier Wednesday after U.S. National Security Advisor Jake Sullivan pressed OPEC and its allies to further boost output and described a recent agreement to increase production as \u201csimply not enough.\u201d<\/p>\n<p>\u201cThe oil group is no stranger to the White House trying to interfere in its decision making process, with President Trump a constant critic of them during his term,\u201d said<strong> <\/strong>Craig Erlam, a senior market analyst at Oanda, in a note. \u201cHow that will go down in the group is another thing. Some will be more than h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>y to increase production faster while others may be more reluctant after a prolonged period of very low prices.\u201d<\/p>\n<p>As the Biden administration draws flak for rising inflation, the president in his speech on Wednesday stressed that a new reading for the consumer price index showed \u201cmonthly price increases have come down.\u201d<\/p>\n<p>\u201cRight now, our experts believe \u2014 the major independent forecasters agree as well \u2014 that these bottlenecks and price spikes will reduce as our economy continues to heal. While today\u2019s consumer price report points in that direction, we will keep a careful eye on inflation each month, and trust the Fed to take appropriate action, if and when it\u2019s needed,\u201d the president said.<\/p>\n<p>During a briefing on Wednesday ahead of Biden\u2019s speech, White House press secretary Jen Psaki was asked by a reporter how the administration squares its push for OPEC to increase its production of a fossil fuel with its climate-change agenda, which has to do with getting away from fossil fuels.<\/p>\n<p>\u201cWe know that they have supply that\u2019s available that can be accessed, and that\u2019s what we\u2019re really referring to here,\u201d she said in response.<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Victor Reklaitis\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/topics\/journalists\/victor-reklaitis\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/VicRek\",\"text\":\"@VicRek\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:vreklaitis@marketwatch.com\",\"text\":\"vreklaitis@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Victor_Reklaitis\"><\/span>Victor Reklaitis<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-75AC-C1133C970BFB%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#: Biden says OPEC must raise oil output to \u2018lower prices for consumers\u2019&#8221; President: \u2018I want to make sure that nothing stands in the way of oil-price declines leading to lower prices for consumers\u2019 President Joe Biden on Wednesday afternoon added to the pressure on the Organization of the Petroleum Exporting Countries, after one of&#8230;<\/p>\n","protected":false},"author":1,"featured_media":322081,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-322080","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/322080","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=322080"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/322080\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/322081"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=322080"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=322080"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=322080"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}