Liam Denning, Columnist

Shale? Here's the Other Wave Washing Into the Oil Market

Expect a surge in refining capacity, and U.S. refiners will be a force.

March 6, 2018 at 3:25 PM UTC

Updated on

March 6, 2018 at 3:35 PM UTC

Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column.

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"The Americans are coming" could have been the subtitle of the International Energy Agency's latest outlook for oil markets.

Unveiling it at CERAWeek, an annual industry get-together in Houston organized by IHS Markit, IEA chief Fatih Birol posited on Monday that oil-supply growth from outside of OPEC would drive the market for at least the next three years -- with one country in particular looking, er, dominant: