• 3 minutes Could Venezuela become a net oil importer?
  • 7 minutes Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 12 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 2 hours Oil prices going Up? NO!
  • 1 day Could Venezuela become a net oil importer?
  • 4 hours Renewables to generate 50% of worldwide electricity by 2050 (BNEF report)
  • 3 hours Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 1 day Gazprom Exports to EU Hit Record
  • 8 hours Oil prices going down
  • 11 hours Could oil demand collapse rapidly? Yup, sure could.
  • 1 day Oil Buyers Club
  • 2 days Why is permian oil "locked in" when refineries abound?
  • 10 hours Tesla Closing a Dozen Solar Facilities in Nine States
  • 2 hours China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 9 hours Saudi Arabia turns to solar
  • 1 day Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 10 hours Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 2 days EVs Could Help Coal Demand
  • 3 hours Are Electric Vehicles Really Better For The Environment?
Alt Text

Uncertainty Looms Large Over Latin American Oil

While Venezuela is grabbing a…

Alt Text

Rig Count Falters Amid Oil Price Correction

The rig count slipped on…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for the U.S.-based Divergente LLC consulting firm with over a decade of experience writing for news outlets such as iNVEZZ and…

More Info

Trending Discussions

The Undisputed Leader Of Tomorrow’s Oil & Gas Markets

The Undisputed Leader Of Tomorrow’s Oil & Gas Markets

The United States will become the undisputed leader of global oil and gas production in the longer term, Fatih Birol, the Executive Director of the International Energy Agency (IEA), said at a press conference on the sidelines of a UN Climate Change conference in Germany on Thursday.

The oil market will balance next year, but looking beyond the next few quarters, in the next ten years, more than 80 percent of the global oil production growth will come from the U.S., Birol said.

Not only will the U.S. lead in new oil supply, but American natural gas production “will be 30 percent higher than Russia” in ten years, the IEA’s head said.

The U.S. becoming the undisputed leader of global oil and gas production will have implications on oil markets, prices, trade flows, investment trends, and geopolitics of energy, Birol said in Bonn today.

Earlier this week, the IEA said in its WEO that the 8 million bpd increase in tight oil production between 2010 and 2025 “would match the highest sustained period of oil output growth by a single country in the history of the oil markets.”

The IEA also noted that the era of oil is not over yet, and said:

“With the United States accounting for 80 percent of the increase in global oil supply to 2025 and maintaining near-term downward pressure on prices, the world’s consumers are not yet ready to say goodbye to the era of oil.”

It’s not only the IEA that expects U.S. oil production to continue to increase over the next decade. None other than OPEC—the rival producer bloc that tried to drive U.S. shale out of profitability by flooding the market with oil and contributing to the plunge in oil prices—admitted last week that American oil production will rise much faster than previously expected.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News