Turmoil in the oil market is nothing new, and recent events in the Middle East, including the missile attack on Abqaiq and the apparent attack on an Iranian tanker, have overshadowed developments in the oil market fundamentals, but further out the latter should drive market trends. One factor looming especially over the next few quarters is the trend in U.S. oil production, which many have noticed is slowing. This has led some to predict U.S. production has peaked and others to argue that prices might soar.
