Top Permian Producer Adds Rigs as Oil Rally Holds

Diamondback Energy, one of the biggest pure-play Permian Basin producers in West Texas, said Monday it is immediately boosting oil output in response to the ongoing price rally driven by the Iran war — making it the first major shale operator to openly break from the capital-discipline playbook that has defined the sector since 2022. In a letter to shareholders on Monday, CEO Kaes Van't Hof announced the company averaged 521,000 barrels of oil per day in the first quarter of 2026 — exceeding even the high end of its guidance range of…