US asks some OPEC producers to pump more oil, no specific figure: sources
The U.S. request to raise output has been made unofficially from Washington to each of the oil producers rather than to the Organization of the Petroleum Exporting Countries as a group, the sources said, adding no specific figure was mentioned.
The United States government has unofficially asked Saudi Arabia and some other OPEC producers to raise oil output, three OPEC and industry sources said on Tuesday, although it has not requested a specific figure. Earlier on Tuesday, Bloomberg reported that the U.S. government had asked them to increase oil production by about 1 million barrels per day (bpd). U.S. Treasury Secretary Steven Mnuchin said on May 8 some countries were willing to increase output to offset losses resulting from the re-imposition of U.S. sanctions on Iran.
The U.S. request to raise output has been made unofficially from Washington to each of the oil producers rather than to the Organization of the Petroleum Exporting Countries as a group, the sources said, adding no specific figure was mentioned.
"Even if the U.S. has asked for 1 million, does it mean that OPEC and its allies would raise by 1 million?" an OPEC source said.
"Any decision has to be a collective decision and taken after debate. Now the most important thing for OPEC is to keep this group together."
OPEC is in the midst of a supply-cutting deal with Russia and other non-members. With oil recently reaching $80 a barrel, the highest since 2014, producers are now discussing easing some of the cutbacks and meet to set policy later in June.
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Reuters reported on May 25 that the producers were considering a supply increase of 1 million bpd, with a final decision to be made at the June 22-23 meeting in Vienna.
08:32 PM IST