All articles tagged with #shale production
President-elect Donald Trump's push for increased shale production in the US faces challenges due to a global crude oil glut, which is expected to slow down the pace of output growth. Despite Trump's promises to boost production and lower pump prices, analysts predict a modest increase of 251,000 barrels a day through 2025, marking the slowest growth since the pandemic-induced drop in 2020.
Devon Energy reported a decrease in fourth-quarter profit due to lower oil and gas prices and projected a 2% production impact in the first quarter as a result of severe winter weather. The company's average realized price without hedges fell, and it reaffirmed its 2024 production forecast while expecting first-quarter production to be down 2%. Despite the challenges, Devon Energy raised its fixed quarterly dividend by 10%.
Chevron reported better-than-expected second-quarter performance, driven by record production in the shale-rich Permian Basin region, ahead of its upcoming earnings announcement.