Trump’s Energy Dominance Runs Into OPEC’s Price Trap

The return of previously curtailed oil production by OPEC+ members is killing U.S. shale growth, with industry executives referring to it as a “price war” to the Financial Times. A prediction by the IEA of a deep oil glut is not helping, either. The shale industry is facing tough times. “We are not going to be putting any more rigs out until prices get back and stabilise in the $75 range ahead. You will see US production start to drop in the fall and into 2026,” the chief executive of Latigo Petroleum, Kirk Edwards, told…