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US threat in mind, OPEC urges members not to mention oil price in meetings

In July, senior OPEC officials attended a workshop in Vienna with international law firm White & Case to discuss US' NOPEC bill

Opec  |  Crude Oil  |  Saudi Arabia

Reuters  |  London/Dubai 

OPEC has urged its members not to mention oil prices when discussing policy in a break from the past, as the oil producing group seeks to avoid the risk of US legal action for manipulating the market, sources close to OPEC said. Proposed US legislation known as "NOPEC", which could open the group up to anti-trust lawsuits, has long lain dormant, with previous American presidents signalling that they would veto any move to make it law. But US President Donald Trump has been a vocal critic of the Organisation of the Petroleum Exporting Countries, blaming it for high oil ...

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First Published: Wed, October 17 2018. 12:54 IST