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Gold/Mining/Energy : Big Dog's Boom Boom Room
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From: Black Blade5/6/2025 3:49:43 AM
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"We Are At A Tipping Point": Shale Giant Diamonback Says US Oil Output Has Peaked, Slashes CapEx Amid OPEC Price War

zerohedge.com

Snip:

Diamondback Energy, the largest independent oil producer in the Permian Basin, made a historic pronouncement today when it said that production has likely peaked in America’s prolific shale fields (something we also mentioned earlier in the day) and will decline in the months and years ahead after crude prices plummeted.

Separately, the Texas company trimmed its own full-year production forecast Monday, and said that it expects onshore oil rigs across the entire US industry to drop by almost 10% by the end of the second quarter and fall further in the months after.

“This will have a meaningful impact on our industry and our country,” Diamondback Chief Executive Officer Travis Stice wrote. “We believe we are at a tipping point for U.S. oil production.”

BLACK BLADE: Hope he's wrong.
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