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Bodman pointed out that he has tried his best to urge the Organization of Petroleum Exporting Countries (OPEC) to require it to increase production to help reduce oil prices that have hit record highs.
He believes that strengthening the supervision of speculators will not have a major impact on oil prices.
US Energy Secretary Sam Bodman said on Monday that although crude oil prices are at a record high, he does not agree to use strategic oil reserves.