Deputy US national security adviser calls on world to boost oil supply

Deputy US national security adviser Daleep Singh called on oil producers to boost supply as the United States continues to crack down on Russia with sanctions for its invasion of Ukraine, saying “this is the time” to dip in to reserves.

Singh pointed to US President Joe Biden’s recent conversation with King Salman of Saudi Arabia as one way the US is looking to boost production.

“We want more supply in the world, more oil supply. We want it from producers that have spare capacity. They’re about 3 to 4 million barrels per day of spare capacity. Saudi has some of that spare capacity,” Singh said during an appearance on CNN’s “New Day.”