FTC Investigates Hess, Occidental, Diamondback Execs Over OPEC Communications

Jul 19, 2024, 08:01 PM

The US Federal Trade Commission (FTC) is investigating whether executives at major oil companies, including Hess, Occidental Petroleum, and Diamondback Energy, improperly communicated with officials from the Organization of the Petroleum Exporting Countries (OPEC). The probe aims to determine if there were any improper pricing discussions or signs of collusion. Investigators are examining executives’ messages and other communications for evidence.