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OIL: US Permian Basin's Oil Output Growth to Slow in 2025 Despite Trump's Plan

OIL
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US Permian Basin's Oil Output Growth to Slow in 2025 Despite Trump's Plan, Executives Say: Reuters

  • Growth in oil output from the US Permian basin, the country's most prolific formation, is expected to slow by at least 25% this year despite President Trump's vow to maximize production, energy executives forecast on Thursday.
  • At a conference in Houston, they said production is expected to rise in 2025 by about 250,000 b/d to 300,000 b/d from the area spread across Texas and New Mexico. This compares to a 380,000 b/d increase last year.
  • That forecast aligns with the US EIA's projection of a 300,000-b/d rise. Total Permian output hit 6.3 mb/d last year, accounting for about half of total US output.
  • While the US is already the world's top oil producer with output of about 13.2 mb/d in 2024, total US production growth has slowed in recent years, climbing only about 280,000 b/d last year.
  • Producers are focusing on keeping capital spending under control and achieving higher prices for their oil and gas. They have prioritized returning cash to shareholders after a pricing rout in the last decade hurt profits and share prices.
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US Permian Basin's Oil Output Growth to Slow in 2025 Despite Trump's Plan, Executives Say: Reuters

  • Growth in oil output from the US Permian basin, the country's most prolific formation, is expected to slow by at least 25% this year despite President Trump's vow to maximize production, energy executives forecast on Thursday.
  • At a conference in Houston, they said production is expected to rise in 2025 by about 250,000 b/d to 300,000 b/d from the area spread across Texas and New Mexico. This compares to a 380,000 b/d increase last year.
  • That forecast aligns with the US EIA's projection of a 300,000-b/d rise. Total Permian output hit 6.3 mb/d last year, accounting for about half of total US output.
  • While the US is already the world's top oil producer with output of about 13.2 mb/d in 2024, total US production growth has slowed in recent years, climbing only about 280,000 b/d last year.
  • Producers are focusing on keeping capital spending under control and achieving higher prices for their oil and gas. They have prioritized returning cash to shareholders after a pricing rout in the last decade hurt profits and share prices.