CERAWeek 2023_ US oil output to grow by 500,000 bpd in 2023 – Occidental Petroleum exec

CERAWeek 2023_ US oil output to grow by 500,000 bpd in 2023 – Occidental Petroleum exec – Reuters

The logo for Occidental Petroleum is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 30, 2019. (Brendan McDermid/Reuters)

Reporting by Liz Hampton, Reuters

HOUSTON
Energiesnet.com 03 08 2023

U.S. oil production will grow by about 500,000 barrels per day this year, with 80% or 90% of that coming from the Permian basin, Frederick Forthuber, president of Oxy Energy Services at Occidental Petroleum Corp (OXY.N) said on Tuesday at the CERAWeek conference in Houston.

Oil output growth in the U.S. has moderated, and is anticipated to remain slower as companies have shifted their focus to investor returns and faced headwinds such as inflation and supply chain constraints.

Reporting by Liz Hampton in Denver Editing by Marguerita Choy

reuters.com 03 08 2023

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