Pakistan, Feb. 7 -- The global oil industry is at a crossroads, shaped by the competing forces of geopolitical ambition, market dynamics, and the accelerating transition to renewable energy. Two key players-Donald Trump's vision for U.S. energy dominance and OPEC's efforts to stabilize the oil market-are at the heart of this transformation. As Trump eyes a potential return to the White House in 2024 and OPEC+ navigates a turbulent energy landscape, the decisions made by these actors will have far-reaching implications for oil-producing nations, global markets, and the future of energy.

During his presidency, Donald Trump championed an "America First" energy policy aimed at maximizing U.S. oil and gas production. His administration rolled...