Bill allowing U.S. to sue OPEC moves forward

Posted On February 11th, 2019 - 10:53 am | by Oil and gas press

Legislation that would allow the U.S. government to sue OPEC for inflating oil prices cleared a key hurdle in the new session of Congress.


The House Judiciary Committee, now led by Democrats, advanced the “No Oil Producing and Exporting Cartels Act” Thursday. That sets the bipartisan “NOPEC” bill, which would subject the cartel to possible antitrust action by the Department of Justice, up for a possible House vote.

A similar bill targeting OPEC was introduced in the Senate on Thursday.

OPEC’s members “deliberately collude to limit crude oil production as a means of fixing prices, unfairly driving up the price of crude oil,” House Judiciary Committee Chairman Jerrold Nadler said before voting in favor of the legislation. The law would amend the Sherman Antitrust Act of 1890, the law used more than a century ago to break up the oil empire of John Rockefeller.

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