Senate Probes Possibility of Collusion Between Big Oil and OPEC

A US Senate committee is investigating whether oil producers are illegally coordinating with OPEC to raise prices, following allegations that the former head of Pioneer Natural Resources Co. colluded with the cartel.

The probe is being led by Budget Committee Chairman Sheldon Whitehouse, an industry foe. He has requested documents from 18 oil companies — including Exxon Mobil Corp., BP PLC, and Chevron Corp. — on grounds that evidence suggests the oil and gas industry may be trying to depress production.

“I am concerned about the possibility that oil and gas companies could be engaging in collusive, ...