“I think the impact on the global oil markets will be limited if any,” Executive Director Fatih Birol told CNBC during the ongoing CERA Week conference in Houston. “We may see some impact. There is major infrastructure construction in Texas, lots of pipelines. We do not know the [tariff] proposal yet in detail, but if there are some cost implications, this may cause some changes in the plans. But I don’t see this causing major changes in global oil markets.” He added: “We follow us oil production really closely. In 2009, we said a silent revolution is happening in the US and it will have a lot of implications. And we see now that the silent shale revolution is very, very loud. So, as a result of that we think in the next five years to come, the US will put its stamp in the global oil market.” Birol […]