Scott Sheffield, CEO of Pioneer Resources, speaks during CERAWeek in 2015
Letter from the US: OPEC+ and the trillion-dollar mistake?
The former CEO of Pioneer, Scott Sheffield, has opened a can of worms through his association with OPEC+ and its market management strategy
US oil companies, and potentially many oil-exporting countries, are in big trouble thanks to Scott Sheffield, the former CEO of US independent Pioneer Natural Resources. Beginning around 2017, Sheffield went from supporting open markets and aggressive exploration to pushing market management and allegedly working with oil-exporting nations and potentially US producers to limit output and support prices. The hundreds of emails and WhatsApp messages to and from Sheffield and others in the industry expose oil-exporting countries and some independent firms to potential criminal and/or private litigation for conspiracy. The damages awarded from such litigation could be astronomical. In late 2017,
Also in this section
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
