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Diamondback Energy Cuts Spending Amid Rising Crude Supply Concerns

8/5/2025

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Summary

Story summary

Diamondback Energy Inc. warns that rising crude supplies may impact global markets.
The company plans to reduce capital spending by $100 million and postpone fracking operations.
CEO Kaes Van’t Hof seeks to prevent production increases to mitigate potential price declines.
US shale-oil production appears to be peaking, with drilling activity down 12% to a four-year low.

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Story summary

Diamondback Energy Inc. warns that rising crude supplies may impact global markets.
The company plans to reduce capital spending by $100 million and postpone fracking operations.
CEO Kaes Van’t Hof seeks to prevent production increases to mitigate potential price declines.
US shale-oil production appears to be peaking, with drilling activity down 12% to a four-year low.