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Big oil companies defeat US consumer lawsuit over production, prices
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Big oil companies defeat US consumer lawsuit over production, prices
Sep 16, 2024 12:21 PM

Sept 16 (Reuters) - Several oil companies including

Exxon Mobil ( XOM ) and Chevron ( CVX ) on Monday defeated an

appeal by consumers who accused them of colluding with former

President Donald Trump's administration, Russia and Saudi Arabia

to cut oil production, boosting prices at the pump.

The 9th U.S. Circuit Court of Appeals in San Francisco said

the consumers' claims were largely barred because they addressed

political questions, and sought to litigate the oil-producing

policies of foreign countries.

It also found a lack of proof that the oil companies

violated antitrust law by conspiring to raise prices.

Other defendants included Devon Energy ( DVN ), Energy

Transfer LP ( ET ), Occidental Petroleum ( OXY ), Phillips 66

, Continental Resources, Hilcorp Energy and the American

Petroleum Institute.

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