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Stock impact report

US frackers were already facing a global oil supply glut. Trump's Venezuelan dream could make it worse [Yahoo! Finance]

Diamondback Energy, Inc. - Commmon Stock (FANG) 
Last diamondback energy, inc. - commmon stock earnings: 2/18 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.diamondbackenergy.com
Company Research Source: Yahoo! Finance
The US capture of Venezuelan president Nicolaá Maduro and his wife, Cilia Flores, hit the share prices of independent shale-oil producers, such as Diamondback Energy and Devon Energy, last week. Over the last 20 years, the US fracking industry has built itself into the main driver of domestic oil production: it accounted for 64% of total US crude oil production in 2023. With average production levels of 13.6m barrels a day (BPD), the US is the world's largest crude-oil producer. Related: Trump says US companies will invest billions in Venezuelan oil production. Experts aren't so sure It will take years for Venezuela's production to ramp up, limiting the near-term impact on US suppliers, but Donald Trump has made clear he wants firms to move quickly. The development comes at a difficult time for the industry, which is pressured by a global glut of oil . Higher supplies come from an unwinding of 2023 voluntary production cuts by some Organization of Petroleum Exporting Countrie Show less Read more
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