• 4 minutes China goes against US natural gas
  • 12 minutes WTI @ 67.50, charts show $62.50 next
  • 15 minutes Saudi Fund Wants to Take Tesla Private?
  • 56 mins Downloadable 3D Printed Gun Designs, Yay or Nay?
  • 1 hour Peak Oil is Now!
  • 5 hours Rattling With Weapons: Iran Must Develop Military To Guard Against Other Powers
  • 7 hours Russians hacking vs U.S., Microsoft President: Russians Targeting All Political Sides
  • 3 hours Corporations Are Buying More Renewables Than Ever
  • 13 hours VW Receives Massive Order Of 1,600 All-Electric Trucks
  • 21 hours Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 1 day CO2 Emissions Hit 67-Year Low In USA, As Rest-Of-World Rises
  • 1 day The EU Loses The Principles On Which It Was Built
  • 1 day Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 18 hours Batteries Could Be a Small Dotcom-Style Bubble
  • 1 day The Discount Airline Model Is Coming for Europe’s Railways
  • 1 day Starvation, horror in Venezuela
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