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Outcome of DOJ investigation into OPEC price fixing by December 31
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Resolution / Starting Odds
No investigation launched • 33%
Investigation launched, no charges • 33%
Investigation launched, charges filed • 33%
Official DOJ report or press release
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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No action taken • 33%
Fines imposed • 33%
Criminal charges filed • 34%
No actionable evidence found • 33%
Evidence of minor violations found • 33%
Evidence of significant collusion found • 34%
No action taken • 33%
Fines imposed • 33%
Civil penalties imposed • 34%
No evidence found • 33%
Evidence of price fixing found • 33%
Inconclusive results • 34%
Charges filed • 33%
Settlement reached • 33%
Case dismissed • 34%
No violations found • 33%
Minor violations found • 33%
Major violations found • 34%
No evidence found • 33%
Inconclusive evidence • 34%
Conclusive evidence found • 33%
No indictments • 33%
Indictments of lower-level executives • 34%
Indictments of high-profile figures • 33%
Mostly legitimate • 25%
Mostly illegitimate • 25%
Divided opinion • 25%
Indifferent • 25%
No misuse found • 25%
Minor misuse found • 25%
Major misuse found • 25%
Investigation inconclusive • 25%