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05.05.26 - 16:12
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Shale Giant Diamondback Is Boosting Oil Output "Immediately" On Soaring Prices (ZeroHedge)
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Shale Giant Diamondback Is Boosting Oil Output "Immediately" On Soaring Prices
With oil prices soaring to multi-year highs, it was only a matter of time: Diamondback Energy, one of the largest shale oil producers, announced it is boosting crude output in response to rising prices caused by the Iran war.
The company that operates in the Permian Basin of West Texas and New Mexico is pumping more than 520,000 barrels a day, 3% more than its original full-year guidance, and plans to sustains those levels, Chief Executive Officer Kaes Van't Hof wrote in a letter to shareholders on Monday.
“We believe there is a legitimate supply-demand imbalance and that the associated price signal is the catalyst to begin to grow production,” he wrote. “Because of our positioning, our preparation and this price signal, we are bringing incremental barrels to the market immediately.”
Van't Hof's comments come just days after supermajors Exxon Mobil and Chevron told investors they wouldn't signi...
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05.05.26 - 04:15
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Chevron Corporation CEO: Physical Oil Shortages to Begin Emerging Globally (AAStocks)
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Chevron Corporation (CVX.US) Chairman and Chief Executive Officer Mike Wirth said that amid the ongoing blockade of the Strait of Hormuz, physical oil shortages will begin emerging globally. Economies will need to adjust demand due to reduced supply, with contraction expected to first appear in Asia.He noted that commercial mark......
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04.05.26 - 17:00
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Big Oil Has Transformed Into Shareholder-Friendly Cash Machines, Says CNBC’s Halftime Report (24/7 Wall St.)
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One of the topics from CNBC's Halftime Report show on May 1, 2026 was that integrated oil majors, like Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX), have spent a decade rebuilding themselves into disciplined cash-return vehicles. Retail investors have typically associated these companies with the 1970s “boom-bust cycles,” but the panel was blunt in saying times ... Big Oil Has Transformed Into Shareholder-Friendly Cash Machines, Says CNBC's Halftime Report...
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