U.S. oil production is set to exceed previous forecasts as Permian Basin output surges and producers raise production guidance.
Record Permian production and increased efficiency across the shale patch have prompted many U.S. oil producers to raise their output guidace, which could boost American production above the expectations of limited gains for this year. Last week, the supermajors reported record oil and natural gas output from the top shale basin, the Permian. They also spoke of their plans to raise that output even further.
EOG Resources updated its full-year guidance to reflect higher volumes and lower per-unit cash operating costs, after better-than-guidance midpoints in volumes and per-unit operating costs for the second quarter. The company raised the top end of the 2024 guidance range for U.S. crude oil production to 491,800 bpd from 490,000 bpd. EOG Resources expects U.S.
U.S. Oil Production Shale Oil Exxonmobil Chevron EOG Resources Coterra Energy Matador Resources Civitas Resources OPEC+
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