US lawmakers are also considering a so-called NOPEC — “No Oil Producing and Exporting Cartels” — law that would end the state immunity that has protected OPEC+ members and their state oil companies from lawsuits. Biden’s comments came after OPEC+ members agreed on Wednesday to reduce the group’s official production quotas by 2 million barrels a day starting in November.
Brent crude is now up about 7.5% this week, up about 13% since its recent low on Sept. 26. That…
