Shale-oil output ‘to hit 14m b/d by 2035’
Global shale-oil output will see a steep rise over the next 20 years, according to a new report, writes Helen Robertson
Global shale-oil output will soar over the next 20 years,
possibly to as much as 14 million barrels a day (b/d),
according to a new report by PricewaterhouseCoopers
report, Shale oil: the next energy revolution, the
consultancy said it expects shale-oil production could make up
as much as 12% of expected total global crude oil supply in
2035. This increase could cause oil prices to fall by up to
40%, the equivalent of around $100/b in real terms. The US
Energy Information Administration (EIA) says Brent
prices could reach $163/b by 2040, up from an average of
around $116/b last year.
"The potential emergence of shale oil presents major
strategic opportunities and challenges for the oil and gas
industry and for governments worldwide," PwC said. "It could
also influence the dynamics of geopolitics as it increases
energy independence for many...
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