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Average Retail Gasoline Prices In The U.S. Hit A 7-year High

Average Retail Gasoline Prices In The U.S. Hit A 7-year High

Reuters reported on October 11, quoting a source, that the White House is preparing to require oil-producing countries to take more measures to support the global economic recovery, saying that the US government authorities are closely monitoring the trends of crude oil and gasoline prices and will use all tools to ensure that the United States And the stability of the global energy market. On Monday (11th), New York crude oil futures hit a record high in 7 years, with the latest price reaching $80.35 per barrel, and the price of Brent crude oil also hit a new high since 2018. The White House asked the Organization of Petroleum Exporting Countries and its OPEC+ to increase production in a statement in August this year to curb the rise in gasoline prices, saying that this poses a threat to the global economic recovery. US National Security Adviser Jake Sullivan said that at this critical moment of the global economic recovery, OPEC's decision to gradually relax production cuts is simply not enough, because it will not be able to completely offset the impact of production cuts by 2022. The OPEC+ meeting in October continued to maintain the plan to increase production by 400,000 barrels per day.
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