US Energy Secretary Encourages OPEC to Raise Oil Output

The U.S. wants the Organization of Petroleum Exporting Countries to increase its oil production when it meets next week in Vienna, U.S. Energy Secretary Samuel Bodman said Thursday.

“Obviously, we would encourage, have encouraged and will encourage increases in production to the extent that it’s possible,” he said. “We are in relatively constant touch with the producers, the ministers from both OPEC and non-OPEC nations.”

OPEC meets June 15 to set production policy for the summer. The group’s ability to add any more oil is limited. Every member but Saudi Arabia is already producing at capacity, according to the U.S. Department of Energy, and customers of Saudi Arabia don’t want more barrels at the prices the Saudis are asking.
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