US downplays Saudi oil cut

As the White House has done on previous occasions, the official stressed that gasoline prices have dropped significantly in the United States in the last year and are far from the record of $5 a gallon (3.78 liters) that was reached in June 2022. .

According to the Automobile Association of the United States (AAA, for its acronym in English), Americans pay on average this Monday about 3.55 dollars for a gallon of gasoline.

Despite downplaying Riyadh’s decision, the aforementioned official reiterated that the Biden government believes that oil-producing countries have a responsibility to meet consumer demand.

“We will continue to work with all producers and consumers to ensure that energy markets support economic growth and serve to lower the prices Americans pay,” the source added.

Saudi Arabia was the only one of the 23 countries in the OPEC+ alliance that announced yesterday that it will further close its oil taps. It’s the third time he’s done it in less than a year.

The rest of the OPEC+ partners, led by Moscow and Riyadh, limited themselves to extending the pumping cuts already in force until the end of 2024.

debt ceiling

The US Treasury Department said on Monday it can now meet the federal government’s payment obligations following the suspension of the debt ceiling, despite earlier warnings that it would run out of funds on Monday if Congress did not acted.

“Now that Congress has acted to suspend the debt limit, Treasury has the tools to ensure that the United States continues to meet all of its obligations,” Treasury spokesman Christopher Hayden said in an emailed statement.

With information from EFE and Reuters