DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/4m6623/increasing_oil) has announced the addition of GlobalData's new report "Increasing Oil Self-sufficiency of the US is Likely to Accelerate the Shift of Global Oil Trade Towards Asia" to their offering.
The International Energy Agency's (IEA's) 2012 edition of the World Energy Outlook (WEO), which was released in November 2012, predicted that the US would emerge as the largest producer of oil in the world by 2020 due to the extraction of oil from shale and tight rock formations.
This, coupled with fuel efficiency in the country's transport sector, will lead to a continuous decline in US oil imports and will enable North America to emerge as a net oil exporter approximately by the year 2030. A major consequence of the US's energy independence is the change in direction of the global oil trade towards Asia.
India, China and the Middle East are expected to account for 60% of the growth in the world energy demand by 2035, which will result in an accelerated flow of oil towards the region. Approximately 90% of exports of oil from the Middle East are expected to be directed towards Asia by 2035 (IEA, 2012).
Scope
- The report highlights that increasing increasing oil self-sufficiency of the US is likely to accelerate the shift of global oil trade towards Asia.
- It focusses on the impact of increasing oil production in the US on the global oil trade and North American oil exports.
- Geographic Scope- Global
Reasons to buy
- To understand that increasing oil self-sufficiency of the US is likely to accelerate the shift of global oil trade towards Asia.
- To know that increasing domestic production of oil and gas is leading the US towards Increased energy independence.
- To understand that change in direction of the global oil trade towards Asia would highlight the importance of secure supply routes to high demand countries in Asia from the Middle East.
For more information visit http://www.researchandmarkets.com/research/4m6623/increasing_oil
Source: GlobalData