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OPEC meets with US shale industry executives at US Energy Conference as oil prices soar

FILE PHOTO: John Hess speaks at the CERAWeek energy conference
FILE PHOTO: Hess Corporation Chief Executive Officer John Hess speaks at the annual CERAWeek energy conference in Houston, Texas, U.S. March 5, 2018. REUTERS/Maria Caspani

March 8, 2022

By Liz Hampton and Marcy de Luna

HOUSTON (Reuters) – Officials from the Organization of the Petroleum Exporting Countries (OPEC) met with executives from several top US shale oil companies at a leading US energy conference on Monday as energy prices soared on supply concerns.

Oil hit a 14-year high of $139 a barrel on Monday as concerns mounted over supply shortages as buyers avoided shipments from second-largest oil exporter Russia. Earlier, OPEC Secretary General Mohammad Barkindo said at the CERAWeek energy conference that OPEC could not offset a ban on Russian oil exports.

Toby Rice, Chief Executive of EQT Corp., and John Hess, CEO of Hess Corp., attended the dinner at The Grove restaurant next to the CERAWeek conference venue, according to a Reuters witness. It was at least the fourth time that US shale oil producers and OPEC officials broke bread to discuss energy issues.

A spokesman for Barkindo did not respond to a request for comment. A Hess spokesman who accompanied its CEO declined to comment.

(Reporting by Liz Hampton and Marcy de Luna in Houston: writing by Gary McWilliams)

https://www.oann.com/opec-meet-with-u-s-shale-executives-at-u-s-energy-conference-as-oil-prices-skyrocket/?utm_source=rss&utm_medium=rss&utm_campaign=opec-meet-with-u-s-shale-executives-at-u-s-energy-conference-as-oil-prices-skyrocket OPEC meets with US shale industry executives at US Energy Conference as oil prices soar

Caroline Bleakley

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