WORLD Output hikes by major oil producers 'not enough': W.House

WORLD

Output hikes by major oil producers 'not enough': W.House

AFP

20:20, August 11, 2021

In this file photo taken on September 28, 2016, participants gather in the lobby ahead of an informal meeting between members of the Organization of Petroleum Exporting Countries, OPEC, in the Algerian capital Algiers. (Photo: AFP)

A boost in production agreed on by the world's leading oil producers is "simply not enough" as the global recovery from the coronavirus pandemic sputters, US national security advisor Jake Sullivan said Wednesday.

The increases agreed on by OPEC+ (the Organization of the Petroleum Exporting Countries and allies) "will not fully offset previous production cuts that OPEC+ imposed during the pandemic until well into 2022," he said in a statement released by the White House.

"At a critical moment in the global recovery, this is simply not enough," the statement said.

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