Oil prices stabilized on Wednesday after a "toxic mix" of market forces triggered one of the biggest falls for years.

However, despite a protracted sell-off in crude futures, the meteoric rise of U.S. shale should continue undeterred over the coming months, analysts told CNBC.

"In short, as much as the recent price slump has injected a fresh dose of uncertainty, it is unlikely to derail the U.S. shale engine," Stephen Brennock, oil analyst at PVM Oil Associates, said in a research note published Wednesday.

"The fact is that U.S. tight oil supply is expected to expand by at least 1 million bpd in 2019. In doing so, it will go a long way to cementing America's newfound position as the world's biggest oil producer." "For now, when it comes to the U.S. shale patch, the glory days are far from over," Brennock said.

Since climbing to four-year highs in early October, crude futures have tumbled by more than a third. The latest wave of heavy selling comes at a time when the energy market as well as the global economy is gripped by a flurry of bearish factors.

Heightened concerns of oversupply, reports of swelling inventories, forecasts of record U.S. and Russian output and intensifying concerns about a slowing global economy have all placed downward pressure on the value of a barrel of oil.

International benchmark Brent crude traded at around $56.61 on Wednesday, up around 0.6 percent, while U.S. West Texas Intermediate (WTI) stood at around $46.59, more than 0.75 percent higher.