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US may ask OPEC to increase output to ease price

13 Oct 2021 16:23 reported by Jordan Huang

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According to the view of some of the experts, the US government might do something to ease the crude oil price, which just touched around US$80/barrel recently.

This August, the US government did ask OPEC (Organization of the Petroleum Exporting Countries) to increase their output to ease the market price as the strong crude oil price might worsen the inflation and interrupt economic resuming in the world, but until the latest conference of OPEC last week, OPEC still decided to remain their output with around 400,000 barrels/day, almost 50% of the market expectation.

Some of the market participants believed the crude oil price might even hike to US$90/barrel level if OPEC does not tend to increase their crude oil output.

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