OPEC meet with U.S. shale executives at U.S. energy conference as oil prices skyrocket

Officials from the Organization of the Petroleum Exporting Countries on Monday met with executives of several top U.S. shale oil companies at a top U.S. energy conference as energy prices soared over supply concerns.

Oil hit a 14-year high of $139 a barrel earlier on Monday as worries grew over supply shortages as buyers shunned cargoes from No. 2 oil exporter Russia. Earlier, OPEC Secretary General Mohammad Barkindo told reporters at the CERAWeek energy conference OPEC could not offset a ban on Russian oil exports.

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