Bringing This Story Forward; Posted It Early; Maybe Missed By Some -- US Shale Boom Will Send "Shockwaves" Through Global Oil Trade
The US shale boom will send "shockwaves" through the global oil trade over the next five years.
Bloomberg is reporting:
The U.S. shale boom will send “shockwaves” through the global oil
trade over the next five years, benefiting the nation’s refiners and
displacing OPEC as the driver of supply growth, the IEA said.
North America
will provide 40 percent of new supplies to 2018 through the development
of light, tight oil and oil sands, while the contribution from the
Organization of Petroleum Exporting Countries will slip to 30 percent,
according to the International Energy Agency.
The IEA trimmed global fuel demand estimates for the next four years,
and predicted that consumption in emerging economies may overtake
developed nations this year.
“The supply shock created by a
surge in North American oil production will be as transformative to the
market over the next five years as was the rise of Chinese demand over
the last 15,” the Paris-based adviser to 28 oil-consuming nations said
in its medium-term market report today.
I posted this story along with the recent comments by the Crescent Point CEO.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.