US disagrees with OPEC's production cut

US disagrees with OPEC's production cutWashington  - The United States on Wednesday opposed a decision by the Organization of the Petroleum Exporting Countries (OPEC) to cut oil production by
520,000 barrels per day.

"We certainly disagree with it. We would like to see more oil on the market, not less," said White House spokeswoman Dana Perino.

OPEC cited falling oil prices and lower demand earlier Wednesday in its announcement that it would cut output. The price of crude oil has fallen by some 30 per cent since a July record, but remains at about 100 dollars per barrel.

Perino said the US was not alone in calling on OPEC to increase production. She also prodded the US Congress to pass comprehensive energy legislation that would help wean the US off its dependence on foreign oil.

Congress came back into session Monday after a summer recess. Legislators immediately took up energy legislation that had stalled earlier in the summer over a dispute about whether to allow more oil drilling off the US coast.

"We are looking for a comprehensive energy package that can help us add more supply to the market and diversify the supply at the same time," Perino said. (dpa)

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