Oil production in the Permian Basin this year is set to grow more slowly than in 2023, industry executives with operations in the area have signaled. The outlook for the Permian may be somewhat surprising after the strong 2023 that the shale oil industry saw. Yet growth was never going to be a linear, upward curve.
Especially when prices are stubbornly fixed in place and traders continue to pile into short positions. Last week, the president of EOG Resources was quite blunt in his expectations. “Bringing on a lot of production last…Security Concerns in Red Sea Boost U.S. Oil Appeal
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