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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 - 15:39
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Ölpreise geben nach deutlichen Vortagsgewinnen nach (DPA-AFX)
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NEW YORK/LONDON (dpa-AFX) - Die Ölpreise haben am Dienstag nach deutlichen Vortagesaufschlägen etwas nachgegeben. Die Lage im Nahen Osten beruhigte sich etwas. Am Vortag hatte die erneute Zuspitzung der Situation die Preise stark noch oben getrieben. ......
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