Permian Resources Corporation 10-Q filed Nov 5, 2026

Modified · Market Conditions

Oil Crude oil prices declined through have been highly volatile over the end of 2025 and into early 2026past year. NYMEX WTI prices declined through 2025, reflecting concerns regarding global economic growth, elevated interest rates, persistent inflationreaching a low of approximately $55.27 per barrel in December 2025, increasedreflecting global oil supply growth, and evolving tariffs including increased OPEC+ production, and international trade policies. While concerns regarding global demand remained relatively strong economic growth, inflation, and geopolitical risks persisted, higher‐than‐anticipated production increases from OPEC and international tariffs and trade policies. In early 2026, hostilities in the potential impact on global inventory levels contributed Middle East and resulting disruptions to additional downward pressure on prices during this period. More recently, key shipping routes through the Strait of Hormuz materially curtailed crude oil prices have increasedexports from the region, withand NYMEX WTI prices reachingreached a high of $112.95 per barrel on April 7, 2026, driven primarily by supply disruptions associated with heightened geopolitical tensions in the Middle East, including disruptions to key shipping routes in . Oil prices subsequently declined during the second quarter of 2026 due to developments regarding the potential reopening of the Strait of Hormuz and , but have since risen from second-quarter lows throughout the Red Sea, which has adversely affected second half of 2026 following continued disruptions affecting global supply conditionsoil infrastructure and tankers. Significant uncertainty remains regarding the ability to resolve resolution of these conflicts, reopen trade and the level of international production, the restoration of shipping routes, and their ultimate impact on global oil supply and prices.