Permian Oil Production Hasn’t Peaked Yet ...Middle East

OILPRICE - Economy
Permian Oil Production Hasn’t Peaked Yet
source : OILPRICE ( Middle East ) () 39
The Permian basin has not yet seen peak oil production, according to Occidental’s chief executive Vicki Hollub. The executive believes that growth in the play’s production rates will even offset declines in other shale basins across the United States. According to the Energy Information Administration, the Permian will produce 5.622 million bpd of crude oil this month, up from 5.596 million bpd. Total production from the shale patch is seen at 9.214 million bpd. However, as Reuters noted, although the Permian’s monthly output…

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