Plains All American Pipeline expects Permian oil production growth to shrink to 400,000 b/d by the end of 2020 as drillers focus on capital discipline, executives said Tuesday. US production growth has dropped steadily from a 1.64 million b/d year-on-year increase posted in 2018 to 1.25 million b/d in 2019, according to the US Energy Information Administration. The recent drop in crude prices related to the coronavirus outbreak and global oil demand concerns has not prompted Plains to lower that outlook, the company said. “Obviously, the last two weeks weren’t in anybody’s forecast,” said Jeremy Goebel, executive vice president of commercial, on Plains’ fourth-quarter earnings call. “But in November, the sentiment was very similar to what it is today.” Slowing Permian output growth, along with last year’s buildout in pipeline infrastructure to the Texas Gulf […]