“It doesn’t take an economist. It doesn’t take in oil market expert to recognize that that doesn’t sound, look or smell right,” White House press secretary Jen Psaki added during the news briefing on Nov. 30. (Source: Image from Nov. 29 briefing by White House / Youtube.com)
The White House hopes OPEC+ member countries will decide to release oil supplies to meet demand when they meet this week and said it was frustrating to see oil prices go down without a corresponding drop in gasoline prices at the pump.
“Yes, we’re frustrated. We’re frustrated because you’ve seen a decrease in oil prices. You’ve not seen a decrease in gas,” White House press secretary Jen Psaki said at a news briefing.
“It doesn’t take an economist. It doesn’t take in oil market expert to recognize that that doesn’t sound, look or smell right.”
President Joe Biden has sought investigations possible illegal conduct into oil and gas markets that are keeping fuel prices high.
RELATED:
Biden Asks FTC to Redouble Probe of Possible ‘Illegal Conduct’ over High Gas Prices
The White House is in regular touch with OPEC member countries and hopes they will take action during a policy meeting on Dec. 1, she said.
“We are hopeful they will release supply to meet the demand up there on the marketplace,” Psaki said.
Recommended Reading
SM Energy, NOG Close $2.6 Billion in Uinta Basin Acquisitions
2024-10-02 - SM Energy and Northern Oil and Gas have closed the acquisitions of XCL Resources and Altamont Energy, adding hundreds of locations and oil cuts of 86% to 87%.
Diamondback Subsidiary Viper Closes $900MM Midland Royalty Deal
2024-10-02 - Diamondback Energy’s Viper Energy closed the last of three acquisitions from Tumbleweed Royalty, owned by Double Eagle Energy’s founders, that together totaled about $1.1 billion.
Tailwater Buys Interests Across 5,000 Acres in Permian Core
2024-10-02 - Tailwater E&P's purchase of non-op working interests from Accelerate Resources includes future inventory held by Diamondback, EOG Resources, Devon and several other E&Ps.
Diversified Closes East Texas NatGas Bolt-on
2024-10-30 - Diversified Energy said the acquisition, from a regional operator, adds the equivalent of 70 Bcf of proved developed producing with a PV-10 of $89 million.
LandBridge Expands in Southern Delaware Basin with $245MM Acquisition
2024-11-19 - LandBridge is acquiring approximately 46,000 largely contiguous surface acres in the Wolf Bone Ranch from a subsidiary of Vitol-backed VTX Energy Partners.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.