Oil is closing lower due to US pressure on the sector for fear of recessionEntertainment 

The United States is urging Gulf states to increase oil production

US President Joe Biden said on Thursday that he was asking the Gulf states to increase oil production in order to curb the recent rise in prices. However, the Democrat denied that the application was the main purpose of his Middle East tour in July.

Speaking at a news conference in Madrid after the NATO summit, Biden said he did not intend to make a specific offer to Saudi Arabia.

The head of the White House, however, pondered that he expects the country to make its own decision on increasing supplies.

According to him, the main purpose of the visit is to expand Israel’s integration in the region.

The US President also said that the G7 intends to work to counteract “China’s abusive practices.”

Asked how long the Americans have been threatened by high fuel prices, Biden said that it will happen while the war in Ukraine continues.

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