The Middle East is on track to surpass Asia to become the world’s second-largest gas producer in 2025, ranking only behind North America, according to Rystad Energy research and analysis.
“U.S. oil production growth has been a dominant feature in the oil market since 2022,” said Burkhard. “A price-driven decline in U.S. production would be a pivot point for the oil market—and set conditions for a potential price recovery. But much will depend on the severity of an economic slowdown and the impact on demand growth beyond 2025.”