Permian Producers Poised to Gain as Oil Prices Remain High

Oil prices have hovered around $90 per barrel due to ongoing tensions in the Middle East. This environment has made energy stocks appealing, despite market uncertainty.

The U.S. Energy Information Administration projects WTI crude at $84.65 per barrel for this year, higher than last year's $65.40. Permian producers are well-poised to gain from high oil prices.

Diamondback Energy, ExxonMobil Holdings Corporation, and Chevron Corporation are likely to benefit amid the favorable pricing environment.

The upstream players operating in the Permian, the most prolific basin in the United States, will see increased production. The EIA estimates total crude oil production in the Permian at 6.76 million barrels per day this year.