The United States is currently experiencing a surge in oil production, reaching a record-breaking 13.2 million barrels per day. This boom in production is driving a major shift in the global oil market and is causing significant disruptions for OPEC. The increase in US oil production is not limited to shale oil, as the M&A trend in the industry extends beyond shale, indicating a broader impact on the global energy market.
The rapid growth in US oil production is attributed to advancements in technology and increased investment in the industry. This surge is challenging the dominance of OPEC and is reshaping the global energy market. As US oil production continues to boom, it is expected to have far-reaching effects on the global economy and energy sector, both in terms of supply and demand. The trend of increasing oil production in the US is likely to have a lasting impact on the dynamics of the global oil market and the influence of major oil-producing countries.