Diamondback Energy (FANG) CEO Kaes Van’t Hof said that U.S. oil output growth will stall if prices remain around $60 per barrel, as fewer drilling sites are profitable at that level, Reuters’ Arathy Somasekhar reports. “There’s only so much Tier 1 rock,” the CEO said while speaking at an energy conference in Austin. “That means that it’s going to be hard to see growth at $60 oil. And at $50, I think that’s an even harder story.”
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