The former chief executive of Pioneer Natural Resources, Scott Sheffield, is facing allegations of collusion by the Federal Trade Commission, for an attempt to co-ordinate production cuts to lift oil prices, the Wall Street Journal has reported, citing unnamed sources. These say that Sheffield contacted other shale oil producers as well as companies from OPEC to try and coordinate a production policy that would have raised oil prices, thus benefiting Pioneer. The WSJ report mentioned “hundreds of messages to representatives of the Organization…
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