Seems Like A Pretty Safe Bet -- July 12, 2014

IEA says US shale boom to extend into 2015. That seems to be a pretty safe bet. Reuters at Rigzone is reporting:

The IEA said it expected nonOPEC supply growth to average 1.2 million bpd next year, in line with increases in 2013 and 2014.

"The U.S. and Canada remain the mainstays for growth, but sources are expected to be more diverse than in 2014," said the IEA, naming Brazil, Britain, Vietnam, Malaysia, Norway and Columbia among countries which will grow output in 2015.

North America will remain the leader in 2015, contributing about two-thirds of the net non-OPEC supply increase compared to 85 percent in 2014.

U.S. light tight oil, mostly from North Dakota and Texas, as well as Canadian bitumen, represent well over half of 2014 non-OPEC supply growth, the IEA said.

It added that the Eagle Ford Shale Play in south Texas will remain one of the most dynamic oil provinces with output growing by 34 percent to 1.4 million bpd this year and exceeding 1.6 million next year.

"Certain OPEC countries have experienced severe disruptions, so North America has made the difference in terms of avoiding severely constrained global supply," the IEA said.

You betcha.