”While OPEC+ seeks to regain market share, the global oil landscape has been fundamentally reshaped over the past decade by the rise of the US as the world’s largest crude oil producer. The return of Donald Trump to the White House has further intensified US efforts to bolster domestic oil production. Yet, as output growth flattens and investment slows, the nature of America’s influence is once again evolving. 1. OPEC+ expands output OPEC+ is set to raise oil output again in November, continuing its shift from price defence to marketshare expansion, while geopolitical disruptions have had limited or short-lived impact on pricing this year. 2. US leads global oil market America’s rise to become the world’s leading oil producer has reshaped the global energy landscape, positioning it as a structural force in supply-demand dynamics and a central pillar of the energy market. 3. Shale growth slows Despite policy support under Trump, US supply growth remains constrained by capital discipline, signalling a shift from reactive shale expansion to a more restrained, efficiency-driven model.”
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Morten W. Langer
