Energy

Ask us to increase oil production, not OPEC

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Workers guide a section of drill pipe into a rack after it was removed from a natural gas well being drilled in the Eagle Ford shale in Karnes County, Texas.

Eddie Seal | Bloomberg | Getty Images

The chief executive of U.S. oil company Occidental Petroleum said that it would have been preferable if the Biden administration had asked shale producers closer to home to increase production and crude supplies, rather than the OPEC alliance that’s led by Saudi Arabia.

Asked whether President Joe Biden and his team were getting it wrong by asking OPEC to pump more when there are shale oil producers at home, CEO Vicki Hollub said that “if I were gonna make a call, it wouldn’t be long distance, it…



Source cnbc.com

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