May 12, 2025--Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--Oil production from the Permian Basin there, the head of Occidental Petroleum Corporation (NYSE:OXY) (Houston, Texas) said. With an expected average of 6.5 million barrels per day (BBL/d ) of oil, the Permian Basin is the largest inland oil-producing reservoir in the nation. Those barrels account for about half of the total U.S. crude oil production. Vicki Hollub, the chief executive officer, director and president of Occidental Petroleum, said in a conference call on first-quarter earnings that Permian production may plateau sooner than expected.
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