OPEC+ headed for a clash with the U.S. as more members rejected President Joe Biden’s call for the group to raise oil production faster and help reduce gasoline prices.
On Monday, Kuwait said the cartel should stick with its plan to increase output gradually because oil markets were well-balanced. That followed similar statements from other key members in recent days, including Iraq, Algeria, Angola and Nigeria.
The Organization of Petroleum Exporting Countries and its allies – led by Saudi Arabia and Russia – meet on Thursday with pressure from oil consumers mounting as prices climb toward $85 a barrel. American gasoline is at a seven-year high of $3.70 a gallon.
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