White House: OPEC production cut 'anti-market'

The White House on Friday criticized OPEC's decision to cut oil production by 1.5 million barrels per day as an anti-market decision.

"It has always been our view that the value of commodities, including oil, should be determined in open, competitive markets, and not by these kinds of anti-market production decisions," White House spokesman Tony Fratto said. The United States has been concerned about high oil prices which have contributed to a slowing economy.  (Reuters)