The Federal Trade Commission is investigating whether executives at major oil companies, including Hess (HES), Occidental Petroleum (OXY) and Diamondback Energy (FANG), improperly communicated with OPEC officials, looking for evidence of executives attempting to collude with OPEC officials on oil market dynamics, people familiar with the matter told Bloomberg’s Mitchell Ferman, Leah Nylenand and Jennifer Dlouhy.
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