The Middle East will dominate again, says IEA
Middle East oil will dominate again when US supplies fade - unless high oil prices spur more efficiency first, writes Derek Brower
North America's soaring tight-oil output is stealing market share from Opec. But the Middle East's low-cost oil will be critical when the American burst fades after 2020, the International Energy Agency (IEA) said. For now, the North American surge continues. US output will reach 11 million barrels a day (b/d) by 2015, making it the largest producer in the world two years earlier than the IEA predicted last year, the agency's chief economist Fatih Birol said. But the trend of rising output from the country was unlikely to continue after the 2020s, he said. And Birol cautioned against giving "wrong signals" to Mideast producers that the world didn't need more oil from the region, lest they st
Also in this section
20 February 2026
The country is pushing to increase production and expand key projects despite challenges including OPEC+ discipline and the limitations of its export infrastructure
20 February 2026
Europe has transformed into a global LNG demand powerhouse over the last few years, with the fuel continuing to play a key role in safeguarding the continent’s energy security, Carsten Poppinga, chief commercial officer at Uniper, tells Petroleum Economist
20 February 2026
Sempra Infrastructure’s vice president for marketing and commercial development, Carlos de la Vega, outlines progress across the company’s US Gulf Coast and Mexico Pacific Coast LNG portfolio, including construction at Port Arthur LNG, continued strong performance at Cameron LNG and development of ECA LNG
19 February 2026
US LNG exporter Cheniere Energy has grown its business rapidly since exporting its first cargo a decade ago. But Chief Commercial Officer Anatol Feygin tells Petroleum Economist that, as in the past, the company’s future expansion plans are anchored by high levels of contracted offtake, supporting predictable returns on investment
