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Biden Should ‘Back Off’ Anti-Oil Policies, Pioneer CEO Says

  • OPEC and allies reject U.S. president’s plea for more barrels
  • Sheffield CEO says ‘investor mindset’ blocking supply boost
Bloomberg business news
Pioneer Looks to End Hedging on Bullish Price Outlook
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President Joe Biden should “back off” of domestic oil drillers rather than pleading with OPEC to pump more crude as U.S. gasoline prices climb, according to one of America’s biggest shale explorers. 

Biden has repeatedly called on OPEC and allied oil exporters to increase supplies as fuel prices surge at home, infuriating a shale industry threatened with strict limits on where and how it drills.