US Shale Companies Defy $60 Oil Prices to Boost Production Amid Advances in Efficiency

US shale companies are increasing production despite $60 oil prices, thanks to advancements in drilling technology that have made them more efficient. Companies such as Diamondback Energy, Coterra Energy, and Ovintiv are raising output for this year or 2026, despite oil prices falling close to the break-even point for many US shale wells. Exxon Mobil also raised its 2025 production guidance by 100,000 barrels of oil equivalent per day, further contributing to next year's record supply glut.