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The Strong Growth Of The United States Shale Oil Impel A High Record Of The Global Oil Production
Dec 21, 2017

According to Dow Jones News, the International Energy Agency ( IEA) said on 14th that shale oil producers are rapidly recovering and boosting global oil supply to the highest level in a year, while undermining OPEC's efforts to re-balance the market by reducing production.

The IEA said in its monthly oil market report, which is closely watched by the market, that global crude oil production increased by 170,000 barrels a day which reached 97.8 million barrels a day in November. The agency attributes this to a substantial increase in shale oil production in the United States and an increase in drilling and well completion activities.

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