OPEC urges members to lobby against US NOPEC bill and outline risks

LONDON: OPEC is encouraging its members to engage with the US administration over a proposed US bill against the group, known as NOPEC, and to explain that passing the bill could put at risk US interests abroad.

A US House panel passed a bill this week to open the Organization of the Petroleum Exporting Countries to lawsuits for collusion in boosting oil prices but it is uncertain whether the full chamber will consider the legislation.

“It is essential that member countries reinforce diplomatic bilateral contacts with government officials in the US … and explain the disadvantages for the US should the NOPEC bill become law,” according to a letter written by OPEC Secretary General Mohammad Barkindo to member states and seen by Reuters.