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Number of US lawmakers supporting DOJ investigation into OPEC by September 30
4
Resolution / Starting Odds
Less than 50 • 33%
Between 50 and 100 • 33%
More than 100 • 33%
Official statements or news reports from credible sources (e.g., CNN, NYT)
Story
U.S. Lawmakers Urge DOJ to Investigate OPEC Oil Price Fixing, Antitrust Concerns
Jun 4, 2024, 06:05 PM
A group of U.S. lawmakers is urging the Department of Justice (DOJ) to investigate potential price fixing and antitrust conspiracies in the oil and gas market. The call for investigation follows evidence uncovered by the Federal Trade Commission (FTC) suggesting possible collusion among U.S. oil producers, OPEC, and OPEC+. Senate Majority Leader Chuck Schumer emphasized the need for the DOJ to act, stating that the American people deserve to know if Big Oil executives are conspiring to illegally raise prices at the pump. The investigation is being closely watched by market participants, including those following the #OOTT and $USO.
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Less than 50 members support • 25%
50-100 members support • 25%
101-150 members support • 25%
More than 150 members support • 25%
Mostly viewed as legitimate • 33%
Divided opinions • 34%
Mostly viewed as politically motivated • 33%
Mostly legitimate • 25%
Mostly illegitimate • 25%
Divided opinion • 25%
Indifferent • 25%
No companies implicated • 25%
1-3 companies implicated • 25%
4-6 companies implicated • 25%
7 or more companies implicated • 25%
0-5 • 25%
6-10 • 25%
11-15 • 25%
More than 15 • 25%
Less than 5 • 33%
5-10 • 33%
More than 10 • 34%
No actionable evidence found • 33%
Evidence of minor violations found • 33%
Evidence of significant collusion found • 34%
0-10 • 25%
11-50 • 25%
51-100 • 25%
101 or more • 25%
High compliance (>90%) • 34%
Moderate compliance (70-90%) • 33%
Low compliance (<70%) • 33%
High support (over $750 million raised) • 25%
Moderate support ($500 million to $750 million) • 25%
Low support ($250 million to $500 million) • 25%
Very low support (less than $250 million) • 25%