The US produces more oil products than anyone else by a large margin [1] and extracts more than anyone else [2].
[1] https://www.eia.gov/tools/faqs/faq.php?id=709&t=6 [2] https://tradingeconomics.com/country-list/crude-oil-producti...
This is not about production. You should read the article and not only the title.
It's this one publications opinion. At best.
And it's essentially unheard of.
TFA notes that China controlled prices during the Iran/"Orange Idiot" war in three ways: (1) they had fortunately filled their storage during a recent price drop, (2) they restricted exports of China oil, and (3) domestic use "sharply" decreased.
The article concludes that this 3-pronged approach is "manageable", but not sustainable:
> But the Iran war has shown that, in practice, China can singlehandedly stabilise the global oil market over a period of many months. Leaders of the increasingly fractious oil cartel can only dream of doing the same. ■