• 2 minutes Oil Price Could Fall To $30 If Global Deal Not Extended
  • 5 minutes Iran downs US drone. No military response . . Just Destroy their economy. Can Senator Kerry be tried for aiding enemy ?
  • 8 minutes The Inconvenient Truth Of Electric Cars
  • 12 minutes The Plastics Problem
  • 47 mins SHALE MAGIC: Let the oil flow: US to lead oil output growth through 2030: ConocoPhillips chief economist
  • 4 hours To be(lieve) or Not To be(lieve): U.S. Treasury Secretary Says U.S.-China Trade Deal Is 90% Done
  • 48 mins Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 2 mins Philadelphia Energy Solutions seeks to permanently shut oil refinery - sources
  • 2 hours EIA reports 12 mm bbls Inventory draw . . . . NO BIG DEAL . . . because U.S. EXPORTED RECORD 12 MILLION BARRELS DAY OF CRUDE + PETROLEUM PRODUCTS ! ! ! THAT'S HUGE !
  • 11 mins IMO 2020
  • 11 hours Here we go folks, the wish of so many: Pres. Trump threatens to lessen US security role in Strait of Hormuz, unveils sanctions
  • 1 hour Its called reality: Economic, policy challenges to make Asia's energy transition painfully slow
  • 10 mins Ireland To Ban New Petrol And Diesel Vehicles From 2030
  • 11 hours Looks like Trump is putting together a "Real" Coalition to protect Persian shipping lanes. Makes perfect sense. NO Fake "Coalition's of the Willing" UPDATE REUTERS Pompeo "Sentinel Program"
  • 6 hours On the hobby side of things
  • 13 hours Cap and trade: What could Oregon’s carbon policy cost you?
Alt Text

Middle East Tensions Move Oil Prices Higher

Oil inched higher on Tuesday…

Alt Text

President Inslee: An Oil Major’s Nightmare

Jay Inslee, a prominent Democratic…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

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:




Download The Free Oilprice App Today

Back to homepage


Leave a comment

Leave a comment




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