The United States will Dominate the Oil Market

The United States will become the world’s largest producer of oil by 2020, and the number one in the export of crude oil a decade later. This includes the International Energy Agency (IEA) in its World Energy Outlook Report. “Towards 2020, the United States will become the world’s largest producer of oil” thereby overcoming Saudi Arabia, says the IEA, which bases this hypothesis on the development of U.S. production of non-conventional oil and reserves of light oil (oil tight), considered too expensive and difficult to extract for much time.

“The recent rise of U.S. production of oil and gas driven by the development of mining technologies at a rapid pace transforms the role of the North” on the world stage. The IEA anticipates that this increase in U.S. production combined with measures to reduce fuel consumption of the vehicles’, will drop gradually until the country’s oil imports in North America will become an exporter of crude oil around 2030.