Former Pioneer CEO Hits Back at FTC Over OPEC Collusion Allegations ...Middle East

The former chief executive of Pioneer Natural Resources has hit back at the Federal Trade Commission for “scapegoating” him with allegations of OPEC collusion. The FTC alleged that Sheffield had colluded with OPEC and OPEC+ members to limit production and increase oil prices in comments on its approval of Exxon’s acquisition of Pioneer. The allegations shook the shale oil world, where several large consolidation deals are awaiting the trade watchdog’s approval. “The FTC is wrong to imply that I ever engaged in, promoted…

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