The U.S. gets about 11% of its oil from these nations, but much of the world relies on oil produced by OPEC+ nations.
After OPEC+ announced on Wednesday it would cut oil production to boost sagging oil prices, the White House said it would look at ways to boost domestic production.
OPEC+ said it would cut production by 2 million barrels per day on the market. OPEC+ comprises of 13 major oil-producing nations plus several other non-member nations that participate in the group’s policy objectives. “It's no secret that the president believes that energy supply should meet energy demand and that it is important for the global economy as it faces global challenge,” she said.
The release was the largest ever from the reserve and brought the amount of oil in storage down to its lowest level in more than three decades after the government sold 180 million barrels to the open market.
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