(Photo: Adobe Stock) Class Action Claims Major Oil Producers Conspired With OPEC to Drive Up Prices
"Defendants agreed with OPEC to constrain production of crude oil worldwide, with the purpose and effect of fixing, raising, and maintaining the price of crude oil in and throughout the United States of America and worldwide," the complaint said. "Defendants are not sovereign nations, and they are not immune to U.S. antitrust law."
January 24, 2024 at 09:36 AM
4 minute read
Energy and Natural Resources
Pioneer Natural Resources, Occidental Petroleum, Hess and other major U.S. shale oil producers were hit with an antitrust class action accusing them of conspiring in coordination with OPEC to curb production for the purpose of driving up crude oil prices.
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