The Federal Trade Commission (FTC) is set to allege that former Pioneer Natural Resources CEO Scott Sheffield, described as an internationally respected industry authority, engaged in collusive activities aimed at manipulating oil prices by sending hundreds of messages to OPEC representatives. The FTC claims these efforts were intended to control oil production during the Covid-19 pandemic when oil prices were negative. Additionally, the FTC is considering a potentially criminal case against Sheffield for suggesting to Texas oil rivals that they should reduce drilling to keep oil prices high. Pioneer Natural Resources defended Sheffield, stating that the FTC's complaint misinterprets the U.S. and global oil markets and misjudges Sheffield's intentions.