• 3 minutes "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 9 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 12 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 hours "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 2 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 2 days Energy Armageddon
  • 13 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 7 days "Forget Oil, The Real Crisis Is Diesel Inventories: The US Has Just 25 Days Left" by Zero Hedge - 5 Stars *****
  • 4 days Is Europe heading for winter of discontent with extensive gas shortages?
  • 7 days The Federal Reserve and Money...Aspects which are not widely known
  • 7 days "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 7 days "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 1 day Wind droughts
  • 8 days Goldman Betting on Cryptocurrencies
  • 11 days Сryptocurrency predictions
Charles Kennedy

Charles Kennedy

Charles is a writer for Oilprice.com

More Info

Premium Content

German Economist Sues OPEC, Wants $50 In Compensation

  • A German economist has filed a lawsuit against OPEC with a Berlin court.
  • Despite the paltry sum, the suit could end up costing OPEC more than it can afford.
  • The judge in a regional court in Berlin allowed the case to proceed and has ordered OPEC and several state-controlled oil firms to file a document naming their lawyers for the case.

A German economist has filed a lawsuit against OPEC with a Berlin court, accusing the cartel of pushing up the prices of the gasoline and heating oil he is buying, Bloomberg Opinion columnist Javier Blas reports—and despite the paltry sum, the suit could end up costing OPEC more than it can afford.

Armin Steinbach, Professor of law and economics, is suing OPEC for damages for $50 (50 euros), plus interest, alleging that OPEC is an illegal cartel operating to drive up oil prices. The court has allowed the case, which is a rare legal challenge against OPEC, despite decades of one-and-off debates in the United States about a bill that would allow lawsuits against OPEC producers.   

The judge in a regional court in Berlin allowed the case to proceed and has ordered OPEC and several state-controlled oil firms to file a document naming their lawyers for the case.

“I hope OPEC reacts soon to the court order. Ignoring court orders is not smart strategy in dealing with German courts,” the German plaintiff, Steinbach, tweeted on Monday.

In his claim, Steinbach had written that he was seeking damages “due to violation of antitrust law.”

“If my lawsuit is successful, it would be recognized for the first time in court that OPEC is a cartel,” Steinbach told German business daily Handelsblatt last week. “Then every German could sue OPEC for damages,” he added.

Such a precedent could have legal consequences, although countries, including the U.S., have been wary of removing the sovereign immunity for countries to be sued, for fear of retaliatory lawsuits.  

In the United States, the Senate Judiciary Committee moved last month the bill that would allow the U.S. to sue OPEC for antitrust behavior and market manipulation to the Senate. The so-called No Oil Producing and Exporting Cartels (NOPEC) Act proposes to amend the Sherman Act to make oil-producing and exporting cartels illegal. NOPEC has been an on-and-off topic for U.S. lawmakers and Administrations for over two decades but has never moved past discussions at committees in Congress. Forms of antitrust legislation aimed at OPEC were discussed at various times under Presidents George W. Bush and Barack Obama, but they both threatened to veto such legislation.

While the NOPEC bill may be dead in the water again, a private citizen’s lawsuit against OPEC could set precedents for more court actions against the organization.

By Charles Kennedy for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • Mamdouh Salameh on November 07 2022 said:
    The German economist is seeking attention and a bit of notoriety which OPEC+ should totally ignore. Moreover, the judge who allowed the case to proceed in a regional court in Berlin is equally seeking attention and notoriety.

    If even the threat of the US suing OPEC+ under the NOPEC bill for so-called cartel-like activities doesn’t worry OPEC+, I doubt that it will be worried from being sued by a German upstart.

    Since its founding in Baghdad 62 years ago, OPEC has neither been a cartel nor has ever acted as one. The Western oil companies known as the 'Seven Sisters' were the real oil cartel.

    Dr Mamdouh G Salameh
    International Oil Economist
    Global Energy Expert
  • Art on November 07 2022 said:
    There is a 0% chance this will result in anything.

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News