Oil Market Reliance on U.S. Shale Potential Is Risky, IEA Says
- Output may need to triple to 15 million barrels a day by 2025
- Lack of new projects raises risk of price spikes, volatility
Photographer: Brittany Sowacke/Bloomberg
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There’s a risk the world is becoming too reliant on the rapid growth of U.S. shale oil, its foremost energy adviser has warned.
Without a raft of new approvals for non-shale projects, oil production from U.S. shale plays must more than triple by 2025, to an eye-popping 15 million barrels a day, to satisfy global demand, according to the International Energy Agency’s latest World Energy Outlook.