Modern Diplomacy | Olivier Lejeune
As shale oil leads the U.S. towards being the world’s leading producer, continued investment will help reach markets.
The United States is on pace to becoming the world’s top oil producer by 2023, thanks mainly to the phenomenal growth of shale production. The IEA estimates that by then, US output will expand by 3.7 million barrels per day (mb/d), more than half of the world’s expected production capacity growth. But as Permian and Eagle Ford crude oil production doubles, growing by 2.7 mb/d by 2023, investments in new pipeline and port export capacity will be critical to getting this oil to market.
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