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Commodities Briefing - Categorized | Market Moves, Oil more

IEA forecasts US to account for a third of new oil supplies

Posted on 15 May 2013

The US will account for a third of new oil supplies over the next five years, more than previously expected, according to the International Energy Agency, illustrating the impact of the shale revolution.
In its medium-term review of the oil market, the industrialised countries’ energy watchdog sharply raised its forecast for North American oil production from six months ago and slightly cut its forecast for capacity additions from the Opec oil cartel………………………………………Full Article: Source


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