American Oil Tycoon Barred from Exxon Board Amid FTC Collusion Allegations with OPEC
Scott Sheffield, the founder and former CEO of Pioneer Natural Resources, faces serious allegations from the Federal Trade Commission (FTC) for purportedly attempting to collude with the Organization of the Petroleum Exporting Countries (OPEC) to manipulate oil prices.
Oil prices posted their steepest weekly loss in three months, as the market, already concerned about weakening demand, coped ...
OPEC convened a workshop today to address oil overproduction issues and devise comprehensive compensation plans to make up for previous overages, according to an official OPEC press release. The ...
The OPEC+ group is currently cutting output by 5.86 million bpd ... Pioneer's former CEO from Exxon's board on allegations ...
Sheffield, the FTC alleges, "campaigned to organize anticompetitive coordinated output reductions between and among U.S.
As part of their commitment to compensate for exceeding production quotas, certain OPEC+ members have submitted detailed ...
OPEC and its economic allies in the OPEC+ bloc have been trying to cut global oil supplies in order to bid up prices lowered ...
While oil prices remained relatively stable throughout Q1 2024, gas prices sank to multi decade lows, hitting US$1.55 per ...
The Organization of the Petroleum Exporting Countries left its estimates for global oil-demand growth unchanged, but lowered its forecast for non-OPEC supply growth for this year and next.
Crude oil futures traded higher on Friday morning as market reports indicated that OPEC+ (Organization of Petroleum Exporting Countries and allies) may continue with production output cuts beyond ...
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