Abstract. The world oil market in 2023 once again demonstrated its resilience to exogenous shocks. The previously formed trends continue to develop: oil production in the USA and other countries of the Western Hemisphere is growing at a faster pace; OPEC+ alliance recurrently restrains production in order to maintain an acceptable level of oil price; demand for oil is almost exclusively supported by developing countries; the overhang of potential supply over demand in the conditions of sluggish dynamics of oil consumption growth has a stabilizing effect on the oil price. The return of the USA to the position of the world oil production leader and the oil boom in the countries of the Western Hemisphere as a whole led to a decrease in the importance of the Middle East in the complex mechanism of crude oil pricing, making the oil price more resistant to geopolitical shocks in this region.Keywords: world oil market, oil price, US oil production, restructuring of world oil trade, OPEC, OPEC+.