Obama says he is concerned about global oil outages

Reuters News
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Posted: Mar 06, 2012 2:04 PM
Obama says he is concerned about global oil outages

WASHINGTON (Reuters) - President Barack Obama said he is concerned about oil output around the world as petroleum prices soar and he is looking to ease bottlenecks at U.S. refineries to help ease prices at home.

Obama said at a White House press conference he was concerned about oil supply outages in some places, including South Sudan. A U.S. report on sanctions on Iran last week said outages in Yemen, Syria and the North Sea have tightened oil markets over the last two months.

Average U.S. gasoline prices hit nearly $3.77 a gallon on Tuesday and have risen about a penny a day over the last month.

(Reporting By Timothy Gardner; Editing by Sandra Maler)