Senate Democrats accuse oil companies of collusion with OPEC, demand DOJ investigation

Senate Majority Leader Chuck Schumer, D-N.Y., led a group of 23 Democratic senators who wrote letters urging the Justice Department to take steps to prevent and prosecute alleged collusion and price fixing between the oil industry and the Organization of the Petroleum Exporting Countries (OPEC). The letter comes after the Federal Trade Commission (FTC) gave the green light to ExxonMobil's $60 billion acquisition of Pioneer Natural Resources but blocked former Pioneer CEO Scott Sheffield from serving on Exxo ...