After more than 20 years of decline, US oil production abruptly took off in 2008. The explanation? Technological advances are unlocking previously inaccessible shale energy resources. While the natural gas boom has greatly weighed on natural gas prices, the full impact of the shale oil boom has yet to be felt globally. This document investigates the medium- to long-term effects of the shale boom on the US economy, on the US dollar and on global oil markets.
In the medium term the North American shale boom is set to provide a significant addition to global supply alongside output rises in Brazil and Iraq and put OPEC under pressure. If we are right in assuming that OPEC will fail to taper supplies, the inventory builds could be seen on a 2-5Y horizon. This should weigh on oil prices. Thereafter a continued rise in demand in notably the non-OECD region will require oil prices to start rising gradually again with consumer prices on a 5-10Y horizon.
To Read the Entire Report Please Click on the pdf File Below.
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US, FX And Oil Research: Effects Of The US Shale Adventure
Published 07/30/2013, 07:15 AM
Updated 05/14/2017, 06:45 AM
US, FX And Oil Research: Effects Of The US Shale Adventure
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