Opec ministers, US shale executives share uneasy truce over an unlikely meal
Houston
AROUND the room at Houston's The Grove restaurant on Monday, at several tables, sat a group of shale executives, interspersed with energy ministers and officials representing Opec members, where they dined on fish and steak. They should have had a lot to discuss amid the fervour of CERAWeek, the most notable US energy event of the year.
But what could have been two of the biggest topics of conversation - oil prices and Opec output levels - were not in the cards, as such a broad conversation would run afoul of US antitrust rules against price-fixing. "It was quite a congenial group of people. We had a really wonderful conversation," said Tim Dove, CEO of Pioneer Natural Resources Co. He noted that Mohammed Barkindo, Opec's secretary-general, gave a speech, and "his main message was that they believe very strongly that demand is going to be significant ahead in terms of growth".
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Pricey coffee is here to stay as hoarding, heat hit Vietnam supply
Oil settles higher as weak US economic growth offset by supply concerns
India's Vedanta misses Q4 profit estimates on lower prices
BHP targets Anglo American in bid valuing miner at US$39 billion
China's Sinopec charts global expansion with refinery in rival India's backyard
Gold trades in tight range as market focuses on US economic data