Democratic leaders and an influential Senate are pushing legislation that would hit back at OPEC+ following the cartel's decision to cut oil production – with Sen. Richard Durbin questioning whether was even a U.S. ally.The move comes after the international cartel stunned the administration by announcing a cut of 2 million barrels of oil per day – maintaining high prices amid economic uncertainty and keeping Russian President Vladimir 's oil lifeline going amid his brutal war on Ukraine. Durbin joined Senate Majority Leader Charles Schumer in floating 'NOPEC' legislation that, if enacted, would allow for lawsuits in U.S. courts to try to go after OPEC for violation of antitrust rules. It is cosponsored by Republican Sen. Charles Grassley, who is calling for a crackdown on the cartel.
Load More
Load More