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OIL: Permian Oil Output Growth to Slow to 9-10% in 2024: Chevron

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Chevron says it expects 9-10% oil output growth in Permian basin in 2025 on Q4 earnings call.

  • This marks a slowdown on the 16% compound annual growth rate of the last few years.
  • “We’ll grow but we’ll grow at a rate not quite that steep over the next couple of years and move toward a plateau.” – Chevron CEO Michael Wirth
  • Chevron produced 992k b/d in the Permian in Q4 2024.
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Chevron says it expects 9-10% oil output growth in Permian basin in 2025 on Q4 earnings call.

  • This marks a slowdown on the 16% compound annual growth rate of the last few years.
  • “We’ll grow but we’ll grow at a rate not quite that steep over the next couple of years and move toward a plateau.” – Chevron CEO Michael Wirth
  • Chevron produced 992k b/d in the Permian in Q4 2024.