Lawmakers are calling on the Biden administration to put pressure on Saudi Arabia after the de facto leader of the OPEC+ slashed crude production by 2 million barrels per day for November, further straining global crude supplies to boost a weakened market. A new Morning Consult/Politico survey shows that just under half of voters would support the No Oil Producing and Exporting Cartels Act, known as NOPEC, which would allow the Justice Department to sue OPEC+ members and companies under antitrust violations. Facing higher gasoline prices, Democratic lawmakers have also offered myriad legislative options for handling Saudi Arabia’s defiance, including a potential pause or termination in arm sales to the kingdom and the removal of military support from Saudi Arabia and the UAE.
- After OPEC+ Cuts Oil Supplies, Nearly Half of U.S. Voters Support ‘NOPEC’ Bill