{"id":1169610,"date":"2021-12-29T14:34:17","date_gmt":"2021-12-29T19:34:17","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1169610"},"modified":"2021-12-29T14:34:34","modified_gmt":"2021-12-29T19:34:34","slug":"russia-again-rebukes-biden-on-oil-gas-production","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/russia-again-rebukes-biden-on-oil-gas-production\/","title":{"rendered":"Russia Again Rebukes Biden On Oil, Gas Production"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Frussia-again-rebukes-biden-on-oil-gas-production%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1169610&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>A top Russian official said Wednesday that Russian and Middle Eastern energy producers will continue to disregard the Biden administration\u2019s pleas for boosted output.<\/p>\n<p>Deputy Prime Minister Alexander Novak explained that the Organization of the Petroleum Exporting Countries and Russia, collectively known as OPEC+, have chosen to stick to previous plans to ensure market stability, Reuters <a href=\"https:\/\/www.reuters.com\/markets\/commodities\/russia-says-opec-prioritises-mid-term-strategy-over-us-calls-more-oil-2021-12-29\/\">reported<\/a>. While the U.S. has urged the group of nations to deviate from those plans and produce more crude oil and natural gas several times over the last several months, the calls have largely been ignored.<\/p>\n<p>\u201cWe believe that it would be right for the market to show in the mid-term how we will increase production as demand grows,\u201d Novak said in an interview Wednesday, according to Reuters. \u201cThe producing companies should understand beforehand which investments they have to plan in order to ensure a production increase.\u201d <strong><a href=\"https:\/\/dailycaller.com\/2021\/12\/21\/european-natural-gas-prices-russia-gazprom-joe-biden\/\">(RELATED: European Gas Prices Hit Record After Russia Cuts Supply)<\/a><\/strong><\/p>\n<p>Oil and natural gas prices have <a href=\"https:\/\/dailycaller.com\/2021\/11\/05\/oil-prices-opec-russia-joe-biden\/\">surged<\/a> in the U.S. and Europe as OPEC+ has remained steadfast in its steady output plan. The increasing costs has contributed to <a href=\"https:\/\/dailycaller.com\/2021\/12\/28\/gasoline-prices-memorial-day-4-dollars-gallon-gasbuddy\/\">higher gasoline prices<\/a> at pumps worldwide and an <a href=\"https:\/\/dailycaller.com\/2021\/12\/22\/wind-power-european-union-energy-crisis-fossil-fuels-russia\/\">energy crisis<\/a> in Europe and Asia.<\/p>\n<p>Throughout the summer and fall, top White House officials have <a href=\"https:\/\/dailycaller.com\/2021\/08\/11\/white-house-opec-energy-oil-gas-keystone\/\">publicly begged<\/a> OPEC+ to increase exports <a href=\"https:\/\/dailycaller.com\/2021\/11\/02\/joe-biden-russia-opec-rising-gas-prices\/\">amid the rising costs<\/a> for consumers.<\/p>\n<div id=\"attachment_7344475\" class=\"wp-caption alignnone\">\n<p id=\"caption-attachment-7344475\" class=\"wp-caption-text\">President Joe Biden speaks after his administration released 50 million barrels from the Strategic Petroleum Reserve on Nov. 23. (Alex Wong\/Getty Images)<\/p>\n<\/div>\n<p>In November, President Joe Biden <a href=\"https:\/\/dailycaller.com\/2021\/11\/23\/joe-biden-releases-50-million-barrels-oil-strategic-petroleum-reserve-gas-prices\/\">released<\/a> 50 million barrels from the U.S. stockpile of crude oil in a coordinated action with several allies including the U.K. and South Korea. The release was intended to increase the global supply of oil and drive down consumer prices at the pump.<\/p>\n<p>But industry experts <a href=\"https:\/\/dailycaller.com\/2021\/11\/23\/joe-biden-strategic-petroleum-reserve-critics-gas-prices\/\">cast doubt<\/a> on the plan and said it would likely be ineffective. The price of oil worldwide <a href=\"https:\/\/dailycaller.com\/2021\/11\/23\/crude-oil-prices-joe-biden-strategic-petroleum-reserve\/\">increased<\/a> after the White House announced the action.<\/p>\n<p>On Wednesday, Novak added that the release of oil from nations\u2019 strategic petroleum reserves, an action seen also as a retaliation for the refusal of OPEC+ to boost output, would only have a limited short term impact, according to Reuters. Oil prices should stay between $65-80 per barrel, he said.<\/p>\n<p>The cost of oil <a href=\"https:\/\/oilprice.com\/oil-price-charts\/#prices\">remained elevated<\/a> at about $76 per barrel in the U.S. and $79 per barrel in Europe on Wednesday. Global demand for oil is expected to increase to 104.1 million barrels per day by 2026, <a href=\"https:\/\/www.iea.org\/reports\/oil-2021\">according<\/a> to an International Energy Agency forecast.<\/p>\n<p>Oil prices <a href=\"https:\/\/www.barrons.com\/articles\/oil-prices-covid-omicron-variant-51639763920\">fell<\/a> in November because of the rapid spread of the Omicron variant of COVID-19, but have <a href=\"https:\/\/dailycaller.com\/2021\/12\/27\/stock-market-oil-investors-omicron-coronavirus-joe-biden\/\">recently increased<\/a> again.<\/p>\n<p>Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact <a href=\"mailto:licensing@dailycallernewsfoundation.org\">licensing@dailycallernewsfoundation.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A top Russian official said Wednesday that Russian and Middle Eastern energy producers will continue to disregard the Biden administration\u2019s pleas for boosted output.Deputy Prime Minister Alexander Novak explained that &#8230;<\/p>\n","protected":false},"author":181,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1169610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1169610","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/181"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1169610"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1169610\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1169610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1169610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1169610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}