12142018Fri
Last updateThu, 13 Dec 2018 5pm

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End-User News

IEA Sees U.S. Energy Dominance into Next Decade

Oil production growth from the U.S., Brazil, Canada and Norway can keep the world well supplied, more than meeting global oil demand growth through 2020, but more investment will be needed to boost output after that, according to the International Energy Agency’s (IEA) latest annual report on oil markets.

Over the next three years, gains from the U.S. alone will cover 80% of the world’s demand growth, with Canada, Brazil and Norway – all IEA family members – able to cover the rest, according to Oil 2018, the IEA’s five-year market analysis and forecast. But the report finds that despite falling costs, additional investment will be needed to spur supply growth after 2020. 

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