Monday, March 5, 2018


  LONDON (Reuters) - U.S. shale oil output is set to surge over the next five years stealing market share from OPEC producers and moving the country, once the world’s top oil importer, closer to self sufficiency, the International Energy Agency said on Monday.
   A landmark deal in 2017 between OPEC and rivals including Russia to curb output to reduce global oversupply materially improved the outlook for other producers as prices rose sharply throughout the year, the IEA said in Oil 2018, an annual report looking at the next five years.
     With U.S. supply surging, the Organization of the Petroleum Exporting Countries will see demand for its crude falling below current production in 2019 and 2020, the report forecast, suggesting a return to oversupply if OPEC output keeps steady.

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