U.S. crude production has already peaked, according to one of the country’s leading shale executives, as producers battered by the price crash shun new output growth and start trying to become profitable.

Matt Gallagher, CEO of Parsley Energy, one of Texas’s biggest independent oil producers, said the record output level struck earlier this year would be the high-water mark.

“I don’t think I’ll see 13 million [bbl/d] again in my lifetime,” the 37-year-old Gallagher told the Financial Times.

“It is really dejecting, because drilling our first well in 2009 we saw the wave of energy independence at our fingertips for the U.S., and it was very rewarding . . . to be a part of it,” he continued.

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