MOSCOW (Pakistan Point News / Sputnik - 13th November, 2019) The total US shale output will overtake production of oil and gas in Russia by 2025, according to the Stated Policies Scenario outlined in World Energy Outlook report released by the International Energy Agency (IEA) on Wednesday.
"Shale output from the United States stays higher for longer, reshaping global markets, trade flows and security. Annual US production growth slows from the breakneck pace seen in recent years, but updated official estimates of underlying resources nonetheless mean that the United States accounts for 85% of the increase in global oil production to 2030 in the Stated Policies Scenario, and for 30% of the increase in gas,"�the report says.
"This bolsters the position of the United States as an exporter of both fuels. By 2025, total US shale output (oil and gas) overtakes total oil and gas production from Russia," the IEA stresses.�
