OPEC Seeking Legal Strategy as U.S. Pushes Anti-Cartel Bill
- Senate introduced version of ‘NOPEC’ legislation this week
- OPEC to consult with law firms on potential legal defenses
Photographer: Tim Rue/Bloomberg
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OPEC is consulting with lawyers to prepare a strategy to defend against proposed U.S. legislation that could open the cartel up to antitrust lawsuits, according to people familiar with the matter.
The organization’s legal team will hold talks in Vienna on Thursday with law firms including White & Case LLP about the “No Oil Producing and Exporting Cartels Act,” one of the people said, asking not to be identified because the information is not public. The cartel is seeking strategy recommendations for dealing with the NOPEC bill, which could allow the U.S. government to sue it for manipulating energy prices, the person said.