Scott Sheffield of Pioneer Natural Resources blamed ExxonMobil for blocking help from the American government for the U.S. shale industry. Exxon’s refusal, Sheffield says, is because the oil major wants to kill smaller shale companies. “It’s going to take a long time to balance the market. That’s why Pioneer and several independents are seeking a global settlement to look at really reducing production with all states, OPEC, OPEC+, until the virus has ended,” Sheffield said in an interview with CNBC on March 26. These discussions have taken various forms. The oil industry tried to ask for help, but missed out on specific handouts in the $2 trillion stimulus recently passed by the U.S. Congress. Meanwhile, one commissioner on the Texas Railroad Commission has proposed state-led production cuts from U.S. shale, so long as it was done in coordination with OPEC. Meanwhile, some U.S. senators are calling upon the U.S. […]