OPEC Firms Try Dodging Antitrust Suits

Law360, New York (January 26, 2007, 12:00 AM EST) -- Seeking to unravel OPEC’s reach on U.S. soil, two potentially groundbreaking antitrust suits are working their way through district court to tackle the national oil companies of Saudi Arabia and Venezuela, as well as their U.S. subsidiaries.

The two cases, filed in November 2006 in Chicago and Houston, accuse the companies and their U.S. subsidiaries of conspiring to fix the prices for petroleum products sold in the United States in violation of U.S. antitrust law.

The defendants—including the Venezuela's Citgo Petroleum Corp. and a Saudi joint...
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