Amid rising gas prices, the Biden administration said it will call on OPEC and its oil-producing allies to boost production as well as calling on regulators to scrutinize the price at the pump.
The White House told CNBC OPEC+’s gradual easing of production cuts is “simply not enough” amid a “critical moment in the global recovery.”
As of Tuesday, the AAA reported that the average U.S. price for a gallon of gasoline stood at $3.186.
Jim Cramer shared his take on the move and what he would like the White House to do instead in the video above.
With oil supply volatility making the oil market more difficult to navigate, our partners at CME Group explain how Traders Turn to Micro Futures.
Recap TheStreet Live: Everything Jim Cramer Is Watching 8/11/21