Obama says he wants oil producers to boost output


WASHINGTON: As the high cost of gasoline takes a toll on politics and pocket books, President Barack Obama said Tuesday he is calling on major oil producers such as Saudi Arabia to increase their oil supplies to help stabilize prices, warning starkly that lack of relief would harm the global economy.

"We are in a lot of conversations with the major oil producers like Saudi Arabia to let them know that it's not going to be good for them if our economy is hobbled because of high oil prices," Obama told a Detroit TV station.

Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Bank Negara fines Habib with RM96,250 for AMLA non-compliance
Pharmaniaga says 'stands firm' on financial recovery to exit PN17
Kobay gets UMA query from Bursa Malaysia
LFE gets RM8.27mil piling work
Jiankun expects GDV of its projects to soar to RM2bil under new leadership
Paramount acquires 21.54% stake in Eco World International
CIMB Securities aims for high single-digit market share by year-end
FBM KLCI retraces earlier losses to close flat
Total Dynamic gets bursa's nod to list on LEAP Market
Asian currencies set for weekly fall; stocks firm on US rate cut bets

Others Also Read