Shale giant Diamondback says global oil glut fears are fading
February 24, 2026
(World Oil) – Fears of a global oil glut that had been expected to crater crude prices are fading amid resilient energy demand, according to Permian basin driller Diamondback Energy Inc. As recently as mid-December, the prevailing outlook among respected oil watchers was that a huge surfeit was in the making that would send crude prices tumbling. Everyone from the International Energy Agency to prominent
