Crude production is set to continue expanding in the United States thanks to shale oil, with the country becoming a net exporter from 2021, a development which should reinforce global energy security, the IEA said on Monday.
“The second wave of the US shale revolution is coming,” said Fatih Birol, the Executive Director of the International Energy Agency.
New technology that allows for extracting oil and gas from shale rock formations has led to a boom in oil production in the United States in recent years. With low production costs, that boom is set to continue.
