OPEC Meets With U.S. Shale Executives As Oil Prices Skyrocket 

Officials from the Organization of the Petroleum Exporting Countries (OPEC) met U.S. shale oil company executives on the sidelines of the CERAWeek conference in Houston on Monday as energy prices soared over supply concerns. It was at least the fourth time since 2017 that U.S. shale oil producers and OPEC officials have held such meetings to discuss energy concerns.

EQT Corp Chief Executive Officer Toby Rice, Hess Corp CEO John Hess and Chesapeake Energy CEO Domenic Dell’Osso, among others, attended a dinner with OPEC Secretary General Mohammad Barkindo at a restaurant adjacent to the CERAWeek conference site.

Oil rose to a 14-year high of $139 a barrel on Monday amid concerns about supplies as the United States and European governments weighed banning imports from Russia, the world’s second-largest oil exporter. Earlier, Barkindo said at CERAWeek that OPEC production could not offset a ban on Russian oil.

Continue reading »

Source: Reuters