Is the global oil market turning towards oversupply? Shale oil giant Diamondback Energy (FANG.US) reduces production to counter the impact of increased production from OPEC+.

date
05/08/2025
According to the Zhitong Finance and Economics APP, as the largest independent oil drilling operator in the Permian Basin of the United States, Diamondback Energy Inc. (FANG.US) is releasing a cautious signal to the market: due to changes in supply and demand patterns, the global crude oil market may potentially experience an oversupply situation in the coming months.