Diamondback Energy cuts 2020 production forecast

March 31 (Reuters) – Oil and gas producer Diamondback Energy Inc on Tuesday cut its full-year 2020 production forecast by about 5% as it curtailed drilling activity and curbed spending to cope with a slump in oil prices.

The company said it now plans to produce about 295,000 to 310,000 barrels of oil equivalent per day (boe/d), lower than its previous forecast of 310,000 to 325,000 boe/d. (Reporting by Shradha Singh in Bengaluru; Editing by Anil D’Silva)

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