It's something akin to talking about the problems independent burger stands are having while McDonald's is taking over. US oil output is projected to rise to 1

It's something akin to talking about the problems independent burger stands are having while McDonald's is taking over. US oil output is projected to rise to 16-18 million barrels per day over the next decade approximately, from 12.x million expected in 2019. At 16m barrels per day, the US will be producing 50% more oil than Saudi Arabia. To do that WTI oil merely needs to remain above roughly $50. At $70+ sustained oil, US production will add a million barrels per day per year. On the flip side, sustained $30-$35 oil would be a catastrophe for OPEC and Russia. They'll cut and or restrain production expansion as necessary to keep oil over a minimum price. Saudi needs $65-$70+ oil to avoid epic budget shortfalls going forward. Russia needs it for spending to placate domestic popularity re Putin. They don't like giving up demand growth to the US, however for now they're not really net suffering a loss of output so much as ceding global growth to US shale. They'll keep doing that for quite a while yet, while hoping US output plateaus in the coming years.