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AP National Business

OPEC+ keeps cautious oil production despite Biden pressure

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Published 4:36 AM

By DAVID McHUGH and JOSH BOAK
Associated Press

FRANKFURT, Germany (AP) — OPEC and allied oil-producing countries have decided to stick with their plan for cautious monthly increases in oil production even as prices surge and the global economy is thirsty for fuel. The OPEC+ alliance, made up of OPEC members led by the Saudis and non-members led by Russia, rebuffed pressure from U.S. President Joe Biden to pump significantly more oil and lower gasoline prices for U.S. drivers. The group on Thursday approved an increase in production of 400,000 barrels per day for the month of December. That’s in line with a plan to add that amount of oil to the market every month into next year.

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