The Senate Judiciary Committee just passed a bill called “NOPEC,” which would open up OPEC to U.S. lawsuits.
OPEC is an international cartel of thirteen countries, which collude to control oil supply and impact oil prices. It produces around 40 percent of the world’s crude, and it has around 80 percent of the world’s oil reserves.
OPEC’s decisions can sometimes raise prices in the United States.
