US crude output set to rocket, says IEA

14 Nov 2017   Shale Oil

Growth in US oil output until 2025 will be the strongest seen by any country in the history of crude markets, making it the “undisputed” leader among global producers, the International Energy Agency said on Tuesday. Technological advances that have enabled production from US shale oilfields to thrive will lead to growth of 8m barrels a day between 2010 and 2025, surpassing expansion rates enjoyed by any other nation. “The US will become the undisputed global oil and gas leader for decades to come,” said Fatih Birol, IEA executive director. The country is expected to account for 80 per cent of the increase in global supply over the same period. US tight oil production, which includes crude, condensates and natural gas liquids (NGLs) will rise to 13m b/d by 2025, out of total US output of 16.9m b/d. “The growth in production is unprecedented, exceeding all historical records, even Saudi Arabia after production from the mega Ghawar field or Soviet gas production from the super Siberian fields,” Mr Birol said.

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