IEA’s Medium-Term Oil Market Report released

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The International Energy Agency (IEA) released its Medium-Term Oil Market Report on 10-Feb-15.

Some highlights:

  • Non-OPEC production more responsive to price swings and sets the stage for a relatively swift recovery
  • US shale industry may be “stronger” in 2020
  • Light Tight Oil (LTO) the new swing producer
  • Global demand to grow slightly faster than supply capacity
  • Saudi Arabian dominance of the OPEC market to decline

To read the Executive Summary of the Medium-Term Oil Market Report 2015 please click here.

To read Executive Director Maria van der Hoeven’s speech at the launch of Medium-Term Oil Market Report 2015, please click here.

To view the presentation that accompanied Executive Director Maria van der Hoeven’s speech, please click here.