White House economic adviser Kevin Hassett said the administration is doing everything possible to reduce a short-term oil shock, adding that it is in constant communication with oil companies and considering steps to increase U.S. oil production soon.
Hassett’s remarks come as the administration seeks to calm energy markets that have been shaken by geopolitical tension and supply disruptions. In earlier comments, he said energy prices could fall quickly once the Strait of Hormuz reopens, arguing that the current spike in oil prices is not permanent.
He has also said the White House sees room for a faster recovery in oil supply, pointing to discussions with allies and the possibility of higher output from U.S. producers. In a separate interview, Hassett said the government had no immediate plan to tap the Strategic Petroleum Reserve to bring down prices.
The latest comments suggest the administration is still relying on coordination with the private sector rather than a single emergency measure. Hassett said communication with oil companies remains constant, underscoring the White House’s effort to manage supply expectations while markets remain volatile.
The adviser’s remarks also align with the broader U.S. messaging that oil prices should ease if supply routes normalize and production rises. Earlier reporting quoted Hassett as saying that once the Strait of Hormuz is open again, energy costs should decline and inflation pressure should ease.
For now, the White House appears focused on short-term stabilization rather than long-term structural changes. Hassett’s comments point to a strategy built around faster production, close contact with industry and a belief that the current oil shock will not last.