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OPEC+ brushes off latest US antitrust bill as it prepares to relax oil production quotas


OPEC+ brushes off latest US antitrust bill as it prepares to relax oil production quotas
US lawmakers’ efforts to revive antitrust legislation targeting OPEC will add a wrinkle to the April 28 meeting between the oil bloc, Russia and other allies, but officials within the group say they are not worried about the prospects of American interference.
The Saudi-Russia-led OPEC+ alliance is set to convene to firm up production plans for the coming months, having agreed earlier in the month to relax quotas by a collective 1 million b/d through July to meet growing oil demand.
Rising retail gasoline prices, however, have already drawn attention in the US Congress, where so-called NOPEC bills have been repeatedly introduced over the last two decades. The latest iteration was advanced by the US House of Representatives’ Judiciary Committee on April 20, the first of several hurdles it would need to surmount before becoming law. ....

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