{"id":41941,"date":"2018-12-23T17:13:22","date_gmt":"2018-12-23T22:13:22","guid":{"rendered":"https:\/\/olduvai.ca\/?p=41941"},"modified":"2018-12-23T17:13:22","modified_gmt":"2018-12-23T22:13:22","slug":"iea-chief-u-s-oil-output-to-near-saudirussian-production-by-2025","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=41941","title":{"rendered":"IEA Chief: U.S. Oil Output To Near Saudi+Russian Production By 2025"},"content":{"rendered":"

IEA Chief: U.S. Oil Output To Near Saudi+Russian Production By 2025<\/a><\/h3>\n
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Total U.S. oil production around 2025 will almost equal the combined production<\/a> of Russia and Saudi Arabia, Fatih Birol, the Executive Director of the International Energy Agency (IEA), told Turkish state-run Anadolu Agency on Friday.<\/p>\n

The huge growth in U.S. shale production will completely change the balance of oil markets, Birol told<\/a> the news agency.<\/p>\n

The IEA\u2019s Oil 2018 report<\/a> from earlier this year sees the United States dominating the global oil supply growth over the next five years.<\/p>\n

OPEC capacity will grow only modestly by 2023, while most of the growth will come from non-OPEC countries, led by the United States, \u201cwhich is becoming ever more dominant in the global oil market,\u201d the IEA said.<\/p>\n

Driven by light tight oil, U.S. production is seen growing by 3.7 million bpd by 2023, more than half of the total global production capacity growth of 6.4 million bpd expected by then. Total liquids production in the United States\u2014including conventional oil, shale, and natural gas liquids\u2014will reach nearly 17 million bpd by 2023, \u201ceasily making it the top global producer, and nearly matching the level of its domestic products demand,\u201d the IEA said in March this year.<\/p>\n

\u201cThe United States is set to put its stamp on global oil markets for the next five years,\u201d Birol said<\/a> back then.<\/p>\n

The U.S. is currently pumping oil at record levels of more than 11 million bpd, while Russia and Saudi Arabia\u2014which also hit record highs in October and November, respectively\u2014will curtail 230,000 bpd and 322,000 bpd of their production in the first six months of 2019, respectively.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

IEA Chief: U.S. Oil Output To Near Saudi+Russian Production By 2025 Total U.S. oil production around 2025 will almost equal the combined production of Russia and Saudi Arabia, Fatih Birol, the Executive Director of the International Energy Agency (IEA), told Turkish state-run Anadolu Agency on Friday. The huge growth in U.S. shale production will completely […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[12300,416,433,23083,595,600,694,701,723,14603,827],"class_list":["post-41941","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-fatih-birol","tag-iea","tag-international-energy-agency","tag-oil-price-com","tag-oil-production","tag-opec","tag-russia","tag-saudi-arabia","tag-shale-oil","tag-tsvetana-paraskova","tag-united-states"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/41941","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=41941"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/41941\/revisions"}],"predecessor-version":[{"id":41942,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/41941\/revisions\/41942"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}