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Chart shows rising U.S. global oil production share, overtaking Russia and Saudi Arabia, signalling strong future economic prospects.
The chart presents a positive outlook for the United States as a key player in global oil production, illustrating a steady increase in the U.S. share of world crude oil production from 2017 through a forecast for Q4 2023. The trend shows the U.S. overtaking both Russia and Saudi Arabia, with its percentage of the world total climbing towards 16%, indicating a robust growth trajectory that underscores reasons to be optimistic about America's energy sector in the coming decades.
Source: Stefan Schubert
The US increasingly leading in oil production, too pic.twitter.com/JprfpZGkPw
— Stefan Schubert (@StefanFSchubert) November 30, 2023
Source:Stefan Schubert
In a recent episode of the Stay In Your Lane Podcast from Triple T Transport, Allianz Trade North America Chief Economist Dan North shed light on why the anticipated economic recession hasn't yet materialized and its implications on the freight market.
The ISM Manufacturing Index moves from contraction to expansion for the first time in 16 months.
CEOs at Davos signal ongoing supply chain disruptions may persist, affecting global freight and consumer prices.
Sharp increase in freight rates early 2024 may signal an impending surge in goods inflation, according to data from Steno Research.
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