The low annual growth rate of the stipe in oil palm progenies is desirable to increase these crops’ productive and economic life. Recurrent reciprocal selection (R.R.S.) has allowed the development of oil palm populations through several breeding cycles with an increased frequency of favorable alleles associated with traits of interest. The present study evaluated families derived from Deli dura × African dura crosses. For 12 years, the yield, vegetative characteristics, and the amount of oil in seven dura progenies were assessed to estimate, from the information collected, the genetic parameters, heritability, and phenotypic correlations among quantitative genetic traits of high-yielding dwarf progenies. The analysis was carried out using analysis of variance, followed by a comparison of means for all estimated traits. The effect of the progenies was highly significant (p ≤ 0.01) for most traits. The yield values, expressed in fresh fruit bunches (FFB) for the progenies, ranged from 165 to 208 kg per palm per year. The oil-to-bunch ratio (O/B) ranged from 17% to 19%, with an overall average of 18%. One of the essential characteristics in this study was the vertical growth of the stipe. Progenies P6 and P7 were identified as those with the lowest annual increase in height, with values of 0.29 and 0.33 m year−1. The values indicate that these are slow-growing cultivars with a high FFB yield and O/B. The highest heritabilities were found for the vegetative trait height (71.62%) and the number of leaflets (46.64%). The development of dura parents with slow growth characteristics in combination with a high bunch and oil production allows extending the productive life of the crop to more than 35 years, providing added value to obtaining differentiated cultivars of oil palm.