U.S. Energy Secretary Asks OPEC to Boost Winter Oil Supplies

United States Energy Secretary Jennifer Granholm has called on oil-producing nations to boost crude supplies for the upcoming winter.

The U.S. has been pressuring the Organization of the Petroleum Exporting Countries (OPEC) to increase their oil production to keep up with robust demand and lower skyrocketing prices, but the group still decided to stick to its regular production plan.

“The message is we need to increase supply at this moment so that people will not be hurt during the winter months,” Granholm told CNBC on Friday at the COP26 climate summit in Glasgow, Scotland.

Granholm’s comments against OPEC came after U.S. President Joe Biden blamed OPEC at a G20 meeting last week for not pumping more oil to help mitigate fuel shortages around the world.

“The idea that Russia and Saudi Arabia and other major producers are not going to pump more oil so people can have gasoline to get to and from work, for example, is not right,” Biden said.

Russian Energy Minister Alexander Novak said that the group is committed to gradual increases in oil production as it stays wary of changing demand. Their regular program increases production by 400,000 barrels per day each month.

“As planned, we are giving the market more and more volume, as it is recovering, at the same time we also see there is a seasonal drop in demand in the fourth and first quarters of the year,” said Novak, adding that oil demand from the EU dropped in October.


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