U.S. Calls For Oil Output

The U.S. calls on OPEC and OPEC allies for increased oil output on Wednesday morning, with pressure stemming directly from Joe Biden and the White House. Biden’s National Security Adviser, Jake Sullivan, released a statement saying, “At a critical moment in the global recovery, this is simply not enough.” Oil is up more than two percent in the last day in light of recent economic forecast releases that predict increased energy consumption throughout the remainder of August.