Shale Giant Diamondback Is Boosting Oil Output "Immediately" On Soaring Prices

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...

By Tyler Durden