IEA: US Shale To Sideline OPEC Going Forward
The recent surge in North American oil production is set to send “shockwaves” through global oil markets, and likely stymie demand growth for OPEC crude over the coming five years, the OECD’s Paris-based energy watchdog the International Energy Agency (IEA) said in its latest six-monthly Medium-Term Oil Market Report (MTOMR), published on 14 May. Led by US light tight oil (LTO) and Canadian oil sands, its...
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