U.S. Senate Majority Leader Chuck Schumer and 22 other Democratic senators have asked the attorney general to investigate allegations of collusion and price-fixing between the oil industry and OPEC. Earlier in May, the FTC approved Exxon Mobil's $60 billion purchase of Pioneer Natural Resources but barred former Pioneer CEO Scott Sheffield from Exxon's board due to allegations he attempted to collude with OPEC to raise oil prices. This investigation could lead other potential colluders to sever their ties with OPEC to avoid accusations of collusion.