IEA: US crude output set to rocket - FT
|The International Energy Agency (IEA) Executive Director Faith Birol told the Financial Times (FT), in an interview on Tuesday, the US crude oil output is likely to accelerate at the strongest pace until 2025.
Key Points:
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 US will become the undisputed global oil and gas leader for decades to come,” Birol said.
US tight oil production, which includes crude, condensates and natural gas liquids (NHLs) 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,” Birol added.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.