| The balance of power in the global oil industry will shift over the next five years, as North America becomes more prominent, with OPEC's influence set to wane. The International Energy Agency's five-year oil market outlook predicts that North America's net exports will "surge" by the end of the decade, driven by the "unconventional oil revolution".
The IEA predicts this trend to spread beyond North America, with oil extracted from oil sands and shale rock ('tight oil') to come online in Russia and Argentina, as well as Kazakhstan and Mexico...............................................Full Article: Source |