Text Size:
A | A

North American Shale To Exceed Most OPEC Nations’ Output In 2015

Text Size: A | A
Bloomberg
December 18, 2013

Oil production from North American shale fields will outpace every member of OPEC except Saudi Arabia within two years, according to Exxon Mobil Corp., the world’s biggest energy company by market value.

Globally, crude output from shale and similar rock formations that require intensive drilling techniques will increase 11-fold by the end of 2040, led by explorers in the U.S., Canada and Russia, Exxon said today in its annual long- term forecast for global energy.

Burgeoning U.S. production in shale hotspots such as North Dakota and Texas will soon overwhelm ...


Already a subscriber? Log In
Password:
 
Does your company have a site license? Inquire here
Already a print subscriber? Upgrade your magazine subscription