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The Federal Trade Commission will bar Pioneer’s chief executive, Scott Sheffield, from joining Exxon’s board, saying he colluded with OPEC to reduce oil production.

The oil company said it would buy CrownRock, a smaller producer, for $12 billion just weeks after Exxon Mobil and Chevron announced acquisitions.

American oil production is hitting record levels, delivering economic and foreign policy benefits but putting environmental goals further out of reach.

With OPEC Plus members in disarray over production levels, oil prices have fallen nearly 20 percent in three months.

The move is the oil giant’s first foray in the production of a metal vital for electric vehicle batteries.

Exxon Mobil and Chevron are spending tens of billions of dollars buying oil and gas assets, betting that the International Energy Agency’s predictions of declining...

The acquisition of Pioneer Natural Resources, Exxon’s largest since its merger with Mobil in 1999, increases the company’s presence in the Permian basin in Texas...

After flirting with $100 a barrel this summer, crude prices had fallen significantly in the past week on the expectation that demand was waning.

The kingdom said its move to reduce oil production by one million barrels a day would continue through September.

Reasons include a stronger supply of oil and weaker-than-expected demand, energy experts say. Some people are saving hundreds of dollars on fuel.