U.S. won't reach a new record in oil production 'ever again,' says Pioneer Natural Resources CEO
Publishing timestamp: 2023-03-09 08:00:02
Summary
The US oil industry may not be able to grow production much higher than it already is due to refining capacity and inventory issues, but gas prices are likely to stay within the current range. There is potential for oil prices to reach $90 again by summer, but there are concerns about exogenous events and the need for policies that encourage investment in the energy industry.
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Keywords: wti crude (mar'23), chevron corp, united states, oil, brian sullivan, s&p 500 index, energy, pioneer bancorp inc, hess corp, business news, pioneer natural resources co, oil and gas, occidental petroleum corp,
Source: https://www.cnbc.com/2023/03/09/us-wont-reach-new-record-oil-production-ever-again-pioneer-ceo.html