So much for ‘drill, baby, drill’?

America’s oil industry is facing immense pressure during Trump 2.0.Even though President Donald Trump vowed to usher in a period of American energy dominance, the administration’s trade war and OPEC’s production hikes have cast a shadow over the oil patch.In fact, once-gangbusters US oil production growth is now at risk of grinding to a halt — or even going in reverse.Hurt by weakening demand and depressed prices, US oil output is now expected to shrink in 2026, S&P Global Commodity Insights projected on Monday. S&P estimates that US oil production will dip to 13.3 million barrels per day in 2026, ..