ABU DHABI-Relentless American Shale Development is set to allow the United States to jump over the world's other major oil and gas producers, with the potential for the country to account for about half of the global raw and natural growth by 2025, the international energy The agency said Tuesday.
In its annual World Energy Outlook report, the IEA said its main projection scenario until 2040 that the United States accounts for almost 75% and 40% of global oil and gas growth over the next six years. Growth is expected to be driven primarily by slate fracking, which should lead US slate oil supply to more than double and now 9.2 million barrels per day in the mid-2020s, the agency said.
"The Slate Revolution continues to shake up the oil and gas supply, which allows the United States to withdraw from the rest of the field as the world's largest oil and gas producer," said the Paris-based organization as a counsel for governments and companies on energy trends. " By 2025 almost every five barrels of oil and every four cubic meters of gas in the world come from the United States. "
The use of hydraulic fracture to drill for oil in slate rock, known as fracking, has dramatically transformed the global oil industry over the past decade and it has enabled the United States to compete with the market share organization of the Petroleum Sports Countries. Shale was largely behind a glut of American oil flooding the market over four years ago and leading oil prices fall to $ 30 a barrel from more than $ 1[ads1]00 per barrel at the end of 2014.
US Scalpel production is expected to be a plateau in the mid-2020s, the IEA says in its central perspective scenario, which eventually falls with 1.5 million barrels per day in the 2030s due to resource constraints. After 2025, the report reported that "baton gradually goes to OPEC to meet still, albeit slowing the growth in global demand for oil."
US Energy Information Administration said earlier that month that US crude production had climbed to 11.3 million barrels a day. It would put the United States on par with Russia, which surpassed Saudi Arabia to become the world's largest crude oil producer last year.
OPEC's own long-term forecast for the global oil landscape, released in September, assumed that the cartel expects US ski oil production to come up in the late 2020s, triggering renewed demand for the cartel's commodity after an expected decline and stagnation.  The IEA said that the central scenario assumes that the world's appetite for oil increases by about one million barrels a day on average by 2025 before it is lowered to around 250,000 barrels a day. But the agency said that it does not expect global demand to rise before 2040. Demand growth in 2025 will be driven by China, and from the end of 2020 to 2040 by India and the Middle East, the agency said.
At the same time, the IEA said that oil consumption for automobile fuel would peak in the mid 2020s due to stronger fuel efficiency standards and the increase of electric vehicles, with demand for petrochemicals and fuel for trucks, aircraft and ships.
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