Hess worked with OPEC to keep gas prices high, a new class action lawsuit alleges.

Holly Myers filed a class action lawsuit against Hess Corp. and CEO John B. Hess in the U.S. District Court for the Southern District of New York on Sept. 17, 2026.

The complaint claims Hess worked with OPEC and rival U.S. drillers to keep American oil production low, driving up what people pay for gasoline, diesel and heating oil.

The alleged CERAWeek dinners

The lawsuit claims that in March 2017, OPEC's secretary general began hosting private dinners for shale executives at CERAWeek, the industry's Houston conference. Hess executives reportedly returned every year through 2023 alongside leaders from seven other large producers.

John Hess called one session "a very good exchange of information and views about oil," the complaint notes. The proposed class action alleges executives traded confidential drilling plans and price targets at those dinners.

Oil prices and production

Oil hit nearly $70 a barrel in March 2021 and topped $120 by mid-2022, according to the lawsuit. Producing a barrel cost these companies roughly $40 at the time, the complaint estimates, the kind of margin that normally sets off a drilling race.

However, the plaintiffs contend production stayed flat. Combined output growth fell from 63% before the alleged conspiracy to 14% after even as oil sold for far more, the filing claims.

In addition, average U.S. gasoline prices climbed from $2.67 to $3.61 a gallon during that time, the proposed class action alleges.

What federal regulators reportedly found

The Federal Trade Commission examined the alleged collusion twice in 2024 while reviewing oil mergers. In May, after claiming Pioneer's former chief executive spent years trying to coordinate output with OPEC, the commission banned him from ExxonMobil's board.

Five months later, it barred John Hess from Chevron's board, alleging he discussed global output with OPEC representatives and maintained private contacts at Saudi Aramco. A similar case against many of the same producers survived dismissal in New Mexico federal court on Aug. 31, 2026.

The legal claims

The proposed class action brings 54 counts against Hess Corporation and John B. Hess:


  • Section 1 of the Sherman Act, the federal law banning deals among competitors that restrain trade

  • State antitrust statutes in 37 states and the District of Columbia, which let buyers recover overcharges

  • State consumer protection statutes, which cover unfair business practices in many of those same states

The filing seeks triple damages, a court order stopping the alleged conduct, costs and attorneys' fees.

What this means for fuel buyers

A proposed nationwide class covers anyone in the United States who bought gasoline, diesel, heating oil, marine fuel or jet fuel since Jan. 1, 2021, with a separate class seeking compensation for buyers in 37 states and the District of Columbia.

The case remains pending in federal court in Manhattan. There is no settlement, no claims process and no money available at this time.