The key US Permian shale basin saw oil output rise by 9% to a record 5.86mn b/d for 2023 on pace with the country’s overall output gains to just shy of 13mn b/d (MEES, 9 February). Permian output ended the year above 6mn b/d for the first time, at just shy of 6.1mn b/d for both November and December according to latest official output stats.

For 2024, gains are likely to continue, but at a lower rate, MEES analysis of recent Q4 and 2023 corporate filings indicates. (CONTINUED - 918 WORDS)