WASHINGTON: US President Joe Biden said on Saturday that his administration has tools to deal with high oil prices after OPEC and its allies rebuffed US pleas for the producers to pump more crude than they have already planned.
“There are other tools in the arsenal that we have to deal with other countries at an appropriate time,” Biden said when asked by a reporter at the White House whether he would authorize a sale from the US Strategic Petroleum Reserve after OPEC, Russia and other countries snubbed the US pleas.
Oil prices have hit over $80 a barrel, raising fuel prices for consumers.


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