Rising U.S. oil production "shocks" global markets, IEA says

05/15/2013 | Bloomberg · Xinhuanet.com (China)

The oil-production boom in the U.S. is relieving tight supplies across the world, according to the International Energy Agency. The U.S. will account for nearly half of all new global oil production by 2018, the agency said. "North America has set off a supply shock that is sending ripples throughout the world," said IEA Executive Director Maria van der Hoeven. "The good news is that this is helping to ease a market that was relatively tight for several years."

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Bloomberg · Xinhuanet.com (China)

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