(Adds comment by spokesperson, background)
April 2 (Reuters) - The Biden administration said the
surprise oil output cuts announced on Sunday by Saudi Arabia and
other OPEC+ countries were not advisable.
"We don’t think cuts are advisable at this moment given
market uncertainty - and we’ve made that clear," a spokesperson
for the National Security Council said.
The cuts of an additional 1.16 million barrels per day were
aimed at supporting market stability and were seen by some
analysts as helping crude oil prices extend their rally from
15-month lows touched in mid-March. The producers had already
agreed to cuts of 2 million barrels a day through the end of
this year.
"We’re focused on prices for American consumers, not
barrels, and prices have come down significantly since last
year, more than $1.50 per gallon from their peak last summer,"
the NSC spokesperson said. "We will continue to work with all
producers and consumers to ensure energy markets support
economic growth and lower prices for American consumers."
The U.S. national average price for gasoline was about $3.50
a gallon on Sunday, according to AAA. That is down by about 30%
from the record high of just over $5 a gallon hit last June.
(Reporting by Steve Holland in Washington
Editing by Dan Burns and Matthew Lewis)
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