U.S. FTC Probes Hess, Occidental Execs Over OPEC Communication, Bloomberg Reports

Agency investigators are looking for evidence of executives attempting to collude with OPEC officials on oil market dynamics, the report said.

Earlier this year, FTC barred former Pioneer Natural Resources CEO Scott Sheffield from Exxon’s board on allegations that he attempted to collude with OPEC to raise oil prices.

The FTC made the move as it approved Exxon’s $60 billion purchase of Pioneer.

Hess and Occidental did not immediately respond to Reuters requests for comment.

(Reporting by Mrinalika Roy in Bengaluru; Editing by Mohammed Safi Shamsi)