Bill Says OPEC's WTO Members Breach Trade Laws

Law360, New York (May 2, 2008, 12:00 AM EDT) -- A team of U.S. senators has reintroduced a bill that aims to lodge a complaint with the World Trade Organization against oil-exporting countries, accusing the countries of breaching the organization's price-manipulation rules.

The OPEC Accountability Act would direct the United States trade representative to initiate dispute proceedings against the eight WTO members that are members of the Organization of Petroleum Exporting Countries.

As members of OPEC, which sets prices and production levels for oil and natural gas, Nigeria, Qatar, the United Arab Emirates, Indonesia, Saudi Arabia,...
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