Shale Major Sees U.S. Oil Production Peaking ...Middle East

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Shale Major Sees U.S. Oil Production Peaking
source : OILPRICE ( Middle East ) () 94
Onshore crude oil production in the United States has peaked, Diamondback Energy has said, expecting output to start declining later this year unless prices reverse course. At the release of its first-quarter results, the company said fracking crews in the shale patch had declined by 15% since the start of the year and are set for further declines amid the international oil price rout. Diamondback is one of the largest Permian operators and plans to curb its spending this year in response to the price developments that most analysts argue were…

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