IEA: record oil output from US, Brazil, Canada and Norway to keep global markets well supplied

By mmillikin Oil production growth from the United States, Brazil, Canada and Norway can keep the world well supplied, more than meeting global oil demand growth through 2020, but more investment will be needed to boost output after that, according to the International Energy Agency’s latest annual report on oil markets.

Over the next three years, gains from the United States alone will cover 80% of the world’s demand growth, with Canada, Brazil and Norway—all IEA members—able to cover the rest, according to Oil 2018, the IEA’s five-year market analysis and forecast.

However, the report finds that despite falling costs, additional investment will be

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