IEA: Global oil market is experiencing a " supply shock"

International Energy Agency (IEA) recently released in London for the next five years, " interim oil market outlook,"Hydraulic fracturing the report expected, due to the North American crude oil production continues to grow at a record pace , and the refining capacity in emerging markets is expected to exceed demand , the global oil market is experiencing positive " supply shock ."

IEA noted that the explosion of shale oil and gas development has become the 21st century a new round of " Gold Rush " , North America 's achievements in this field should be affirmed. " For a long time , 150 years ago to become the cradle of the American oil industry worldwide are experiencing seemingly irreversible decline, but the emergence of  shale gas  is suddenly standing in the mature economies of the world's oil and gas center stage ." .

In the relatively remote , located in the U.S. Great Plains , North Dakota , this emerging industry with great explosiveness to create tens of billions of dollars in profits and thousands of jobs. "North American shale oil and gas development with the release of the ' supply shock ' will become a global ripples ." IEA Executive Officer Maria Fande He Wen conference, said in the report .

IEA said the next five years , this " supply shock" will completely change the market structure , its influence " as much as the past 15 years China has brought to the market demand continues to increase the impact of " North America will be a huge appetite for energy imports region into is a strong exporter .

Last November , IEA had predicted , the rise of the shale industry , the United States is expected in 2017 to become the world 's largest oil producer . However, the development of shale oil and gas blowout is also accompanied by a variety of questions , environmentalists accuse fracking is deadly impact on the environment , as well as people believe the massive development of shale resources will trigger an earthquake .

But opposition Nanzu shale industry giant strides forward . IEA in the report predicts that by 2018, the average daily supply of crude oil in North America in 2012 on the basis of increased 390 million barrels, while all non -OPEC countries over the same period the growth rate would be for no more than 600 million barrels / day. " But the United States does not mean that all of the yield strength ." Report stressed that " traditional OPEC 's oil production over the next five years will also have a considerable increase ."

OPEC production capacity accounted for 35% of global oil production , the report predicts that by 2018 , OPEC crude oil output will increase overall 3675 million barrels, while the current actual production capacity of 3,000 b / d under the sky . In addition , the report also slightly raised its 2013 global oil demand to 9060 barrels / day. At the same time ,fracturing proppant thanks to the strong performance in North America , non-OPEC countries in 2013 is expected to average daily oil production higher than previously forecast 5 million barrels to 5450 barrels / day.