FTC says ex-Pioneer chief tried to collude with OPEC on oil prices, WSJ reports

Former Pioneer Natural Resources (PXD) Chief Executive Scott Sheffield attempted to collude with representatives of the Organization of the Petroleum Exporting Countries to coordinate production and raise oil prices, The Wall Street Journal’s Benoit Morenne, Dave Michaels and Collin Eaton report, citing U.S. antitrust enforcers. Officials at the Federal Trade Commission have decided to refer the allegations against Sheffield to the Justice Department for a potential criminal investigation, according to people familiar with the matter. The allegations, unveiled by the Federal Trade Commission on Thursday, come as Exxon Mobil (XOM) struck an agreement with antitrust enforcers not to add Sheffield to its board of directors.