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U.S. onshore oil production may peak this year due to low crude prices, warns Diamondback Energy CEO.
U.S. onshore oil production is likely to peak and decline this year due to a plunge in crude oil prices, according to Diamondback Energy CEO Travis Stice.
The company has cut its capital budget by $400 million, reflecting a 15% drop in fracking crews and an expected 10% decline in onshore oil rigs by the end of the second quarter.
Stice warns this trend threatens U.S. energy security and economic growth.
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La producción de petróleo en tierra de EE.UU. podría alcanzar su pico este año debido a los bajos precios del crudo, advierte el CEO de Diamondback Energy.