US Shale Output has Peaked as Prices Plummet, Diamondback Says
(Bloomberg) — Diamondback Energy Inc., the largest independent oil producer in the Permian Basin, says production has likely peaked in America’s prolific shale fields and will decline in the months ahead as crude prices have plummeted. The Midland, Texas-based company, which trimmed its own production forecast for the year, said in a letter Monday to…