The White House stands by its calls for oil-producing countries to "do more" to support the global economic recovery, an official said on Monday as crude prices hit multi-year peaks.

The administration official said they are closely monitoring the cost of oil and gasoline and are "using every tool at our disposal to address anti-competitive practices in U.S. and global energy markets to ensure reliable and stable energy markets." They have raised the concern at a senior level with several members of the OPEC+ alliance, according to the official.

-Reuters