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Congress eyeing 'NOPEC' bill to take on Saudi Arabia

• The Hill

Momentum is building in Congress in support of legislation that would take on the OPEC+ group of oil-producing nations that just announced cuts in production likely to help Russia and raise prices in the United States.

Senate Majority Leader Charles Schumer (D-N.Y.) recently floated using the legislation, known as "NOPEC," as one way to respond to the group, which includes Saudi Arabia and Russia.

Some lawmakers on both sides of the aisle have gone even further, saying that the decision by the Saudi-led group to reduce production by 2 million barrels a day is a reason to significantly shift relations with Riyadh.

The White House has not explicitly backed the bill, but said following the production cut announcement that it would "consult with Congress on additional tools and authorities to reduce OPEC's control over energy prices."

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