International Energy Agency Predicts US will have the Hegemony in Oil Industry in Next 5 Years – America News Hour

International Energy Agency Predicts US will have the Hegemony in Oil Industry in Next 5 Years

OIL & ENERGY
OIL & ENERGY

The U.S. will source much of the world’s rising demand for oil in the coming five years as quoted and forecasted by International Energy Agency. Increasing production from the U.S. and a handful of other countries will meet demand through 2020, but shortage of investment could lead to stiff supply after that.

The U.S. will be ready to export 5 million barrels a day all across the world by 2023. The International Energy Agency stated that, “Global demand for oil will further expand in future and U.S. will going to fulfill that demand.”

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