Top US Shale Producer Worries Oil Prices Could Run Too Hot

“I hope it stabilizes between a $80 to $100 range over the next several years. We need stability in the oil markets,” Scott Sheffield, the CEO of top U.S. shale producer Pioneer Natural Resources Co., said.

Liz Hampton, Reuters
Top US Shale Producer Worries Oil Prices Could Run Too Hot

Pioneer Natural Resources Co. CEO Scott Sheffield speaks during a Hart Energy DUG Eagle Ford conference in 2013. (Source: Hart Energy)

Scott Sheffield, the CEO of top U.S. shale producer Pioneer Natural Resources Co., on Dec. 7 said he worries oil prices could get too high and further roil markets after years underinvestment in the sector.

“I’m worried that it may get too high, above $100 (per barrel)," Sheffield said in an interview on the sidelines of the World Petroleum Congress in Houston. The event brings together top energy executives and policy makers to discuss oil and gas technologies and market trends.

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