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IEA Report: America Will Dominate Global Oil Markets


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One year into President Donald Trump’s policy of “American energy dominance,” the International Energy Agency said Monday that the United States will dominate the global oil markets for the foreseeable future thanks to the shale oil boom.

IEA Executive Director Fatih Birol said in a report released on Monday, “The U.S. is set to put its stamp on global oil markets for the next five years.”

The rising demand for oil has “unleashed a new wave of growth from the U.S.,” according to the IEA.

The IEA argued in its report that American production will cover more than half of the world’s oil demand growth to 2023.

During his presidential campaign, then candidate-Donald Trump called for a policy of “American energy dominance,” which called for repealing onerous energy regulations and opening up federal lands to oil exploration.


The new oil kings.

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