US Senator Warren concerned Exxon’s plan to buy Pioneer will raise costs

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“Oil company profiteering hits American consumers right in the wallet — and I’m concerned that Exxon’s massive acquisition will reduce competition and drive up costs. Regulators should closely scrutinize this big oil merger,” Warren said.

The deal, valued at $59.5 billion, combines the largest U.S. oil company with one of the most successful names to emerge from the shale revolution that turned the U.S. into the world’s largest oil producer in little more than a decade.