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White House urges OPEC to boost oil output amid Covid-19 economic recovery

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WASHINGTON : The White House urged OPEC to boost oil production Wednesday, saying recent planned increases are insufficient as countries around the world seek to emerge from the Covid-19 pandemic.

National security adviser Jake Sullivan said in a statement that recent planned production increases by the Organization of the Petroleum Exporting Countries would “not fully offset previous production cuts" made by OPEC and its oil-producing allies during the pandemic. “At a critical moment in the global recovery, this is simply not enough," Mr.

Sullivan said. Brent crude, the international oil benchmark, fell 0.8% to $70.04 a barrel after the White House announcement.

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