The United States must boost its production of oil supply in five years, surpassing Russia and approaching Saudi Arabia. The estimate is that more than 4 million barrels of oil per day are added to American oil. The information is from the International Energy Agency (IEA).
According to the IEA's prediction "the U.S. has increasingly dealt with the expansion of the global oil supply, with significant growth, also seen among other producers outside of OPEC, including Brazil, Norway and the new producer Guyana."
In addition to the prominence of the expansion of U.S. production, which should bring greater diversity of supply to the market, it is estimated that the growth of global demand for oil should decrease as China decelerates production, but should still increase in a Annual average of 1.2 million of bpd up to 2024.
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