NOPEC’s Approval By The US Congress Will Cause Instability In The Oil Markets?

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The No Oil Producing and Exporting Cartels Act, often known as NOPEC, would cause volatility in the global oil market, according to the oil minister of Libya, who spoke on Monday.

No Oil Producing

During a meeting with the Algerian ambassador in Tripoli, the minister, Mohamed Oun, stated, “OPEC+ is aiming to ensure the stability of the market via determining the supply volumes, not the pricing.”

The No Oil Producing and Exporting Cartels law aim to shield American consumers and companies from artificial oil price increases.


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Source: Reuters


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