Biden To Consult Informally With Key Energy Consumers At G20 On Energy Crisis - Sullivan

Biden to Consult Informally With Key Energy Consumers at G20 on Energy Crisis - Sullivan

WASHINGTON (UrduPoint News / Sputnik - 29th October, 2021) US President Joe Biden will consult informally with key energy consuming countries during the G20 summit in Rome this weekend to address the energy crisis, White House National Security Adviser Jake Sullivan said on Thursday.

""He (Biden) will have the opportunity to informally consult with key energy consumers ... He will have those conversations at the G20. We will see what comes as a result of those conversations," Sullivan said during a press gaggle with reporters onboard Air Force One.

Sullivan noted the United States is currently engaging at multiple levels with the largest consuming countries in the world, including China, India, Japan, South Korea, the Europeans and others.

Nearly two years since the start of the pandemic, pent-up demand has created an oil supply crisis which has sent crude prices skyrocketing from below $49 per barrel at the end of last year to above $80 at present.

In addition, OPEC has rejected requests from the Biden administration to increase oil production in order to try to bring gasoline prices down in the United States.

The European Union is meanwhile facing a spike in gas prices, which has led to a sharp rise in electricity costs.