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The big picture: Why the U.S. wants OPEC to pump more oil

Drilling, oil wells in southern Kuwait along the Saudi border. Photo: Dominique BERBAIN / Gamma-Rapho via Getty Images

The U.S. government has asked Saudi Arabia and other OPEC countries to increase oil production, according to Bloomberg.

Why it's happening: The Trump administration is likely reacting to the fact that gasoline prices just spiked to their highest level in the U.S. in more than three years and they are likely concerned about potential political backlash, Axios' Amy Harder notes.