The US wants a more significant increase in production from OPEC

Oil prices fell more than 1 percent, while the price of Brent slipped back below $ 70 per barrel (159 liters). The markets thus responded to the information that the United States wants a more significant increase in production from the Organization of the Petroleum Exporting Countries (OPEC) and other producers in order to stop the rise in gasoline prices. The CNBC news server said that according to the White House, OPEC and other producers, which together form the OPEC + group, should increase production more sharply. The reason is the rise in gasoline prices, which may adversely affect the pace of economic recovery. Representatives of the US administration have recently spoken to representatives of Saudi Arabia, which is in fact the leader of OPEC, as well as with representatives of the United Arab Emirates (UAE) and other countries within OPEC +, the CNBC server said. According to his report, the White House said that the OPEC + agreement in July to increase production by 400,000 barrels a month from August each month is "simply insufficient in the current critical period of global economic recovery". This extent of increase still leaves OPEC + 's production below the pre - pandemic level. The price of the Brent North Sea oil mixture with delivery in October reached USD 69.87 (EUR 59.61) per barrel. Compared to the previous deadline, this means a decrease of 76 cents (1.08 percent). The price of American light oil WTI with the September contract reached 67.50 USD / barrel. Compared to the previous deadline, this represents a decrease of 79 cents or 1.16 percent.