Diamondback Energy Inc. has no plans to accelerate oil production growth despite signs of impending tightness in the global market, according to management.


CEO Travis Stice hosted a conference call to discuss the Permian Basin pure-play’s fourth quarter and full-year 2022 results.

“I don’t think the macro conditions are dictating any kind of production growth currently,” Stice told analysts. He cited uncertainty around monetary policy, the pace of oil demand recovery in China, and “Russian barrels that are still finding their way into the market. So it doesn’t appear to me that the macro conditions have fundamentally changed. And…perhaps most importantly, the feedback we get from our shareholders [is] encouraging us to continue to embrace a shareholder return...