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Subject of emergency alert message arrested - May 2, 2024 | SaltWire #dartmouth #update #suspectHOUSTON - A U.S. regulator's censure of a top U.S. oil executive over private meetings with the Organization of the Petroleum Exporting Countries group of oil producers has put a spotlight on dinners attended by dozens of shale executives.
Executives who attended previously had described to Reuters the meetings as discussing oil demand, spare production capacity and shareholder requirements. The first shale-OPEC dinner, in March 2017, was organized by then-OPEC Secretary General Mohammed Barkindo after OPEC had failed in a price war to halt U.S. shale's rapid market share gains and wanted to understand how the industry operated, the FTC said.
But the shale industry quickly bounced back with heavy investments and led the U.S. to become the world's largest oil producer in a few years. It produced a record 12.9 million barrels per day last year.
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