ABU DHABI-Relentless American Shale Development is focused on the United States being able to skip the world's other major oil…
ABU DHABI-Relentless American Shale Development is focused on the United States being able to skip the world’s other major oil and gas producers with the potential for the country to account for about half of global raw and natural growth in 2025, the International Energy Agency said Tuesday.
In its annual World Energy Outlook report, the IEA said that its main forecast scenario until 2040 predicts that the US accounts for nearly 75% and 40% of global oil and gas growth in the next six years. Growth is expected to be driven primarily by slate fracking, which should lead US oil supplies to more than double, reaching 9.2 million barrels per day in the mid-2020s, the agency said.
“The Slate Revolution continues to shake up oil and gas supply, allowing the United States to pull away from the rest of the field as the world’s largest oil and gas producer,” said the Paris-based organization that advises governments and companies on energy trends. “In 2025 almost every five barrels of oil and four cubic meters of gas in the world come from the United States. “
The use of hydraulic fracture for drilling for shale rock oil called fracking has dramatically transformed the global oil industry over the past decade, and it has done so The US was able to compete with the organization of the petroleum exporting countries for market share. Slate was largely behind a glut of American oil that flooded the market four years ago, which led to a drop in oil prices of $ 30 per barrel from more than $ 1
00 per barrel. bar at the end of 2014.
USA. Slate oil production is expected to be plateau in mid 2020 easy, the IEA said in its central perspective scenario, which eventually fell by 1.5 million barrels per day in the 2030s due to resource constraints. After 2025, the report noted that “baton gradually switches to OPEC to meet continued, albeit slow growth in global demand for oil.”
US Energy Information Administration said earlier this month that US crude production had climbed to 11.3 million barrels a day. It would put the US in line 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 said the cartel expects US oil production to peak at the end of the 2020s, leading to renewed demand for the cartel’s crude following an expected decline and stagnation .  The IEA said that its central scenario assumes that the world’s appetite for oil grows by about one million barrels a day on average by 2025 before slowing to about 250,000 barrels a day. But the agency said it does not expect global demand to rise before 2040. Demand growth up to 2025 should be driven by China, and from the end of 2020 to 2040 by India and the Middle East, the Authority said.
Similarly, the IEA said that oil use for car fuel would be top in the mid-2020s due to stronger fuel efficiency standards and the increase of electric vehicles, with demand driven by petrochemicals and fuel for trucks, aircraft and ships.
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