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Supply shock from American oil rippling through markets

OilRigWorkersThe International Energy Agency (IEA) has released a report asserting that the supply shock created by a surge in North American oil production will be as transformative to the market over the next five years as was the rise of Chinese demand over the last 15.  The IEA made the claim in its annual Medium-Term Oil Market Report (MTOMR). The shift will not only cause oil companies to overhaul their global investment strategies, but also reshape the way oil is transported, stored and refined.

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