U.S. oil production has likely peaked and will start to decline, Diamondback CEO warns
U.S. onshore oil production has likely peaked and will start to decline due to the recent plunge in crude prices, jeopardizing the nation’s position as the world’s largest fossil fuel producer and its energy security, the CEO of Diamondback Energy told shareholders in a letter this week U.S. crude oil prices have tumbled about 17% this year as recession fears due to President Donald Trump’s tariffs weigh on demand expectations.
U.S. onshore oil production has likely peaked and will start to decline due to the recent plunge in crude prices, jeopardizing the nation’s position as the world’s largest fossil fuel producer and its energy security, the CEO of Diamondback Energy told shareholders in a letter this week U.S. crude oil prices have tumbled about 17% this year as recession fears due to President Donald Trump’s tariffs weigh on demand expectations.
