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  • Diplomatic FAIL: OPEC once again rebuffs Biden’s pleas for more oil

    05/05/2022 11:59:24 AM PDT · by Red Badger · 28 replies
    https://www.bizpacreview.com ^ | May 5, 2022 | Thomas Catenacci,DCNF
    The Organization of the Petroleum Exporting Countries (OPEC), the powerful Middle Eastern oil cartel, stuck to its planned incremental production increase, shrugging off calls from the West for greater supply. Both the cartel and Russia, collectively known as OPEC+, will stick to their plan to raise production by a modest 432,000 barrels per day in June, multiple delegates told Reuters, despite pleas from the Biden administration. The White House has repeatedly called upon OPEC+ to boost its oil output over the last year as supply chains have been snarled amid the COVID-19 pandemic recovery. White House national security adviser Jake...