The head of the largest independent oil producer in the Permian Basin predicts US shale production has peaked and will likely decline from here as oil prices hover near four-year lows. "We have a very good view of what the US looks like.

We’re a little over 100 days into this new administration and, ‘Good Lord.' There’s been a tremendous amount of volatility introduced."

U.S. crude oil prices rose more than 4% to $59.56 per barrel Tuesday as domestic production is expected to decline.