IEA sees US shale output surge stealing Opec share in next five years

  US shale oil output is set to surge over the next five years stealing market share from OPEC producers and moving the country, once the world's top oil importer, closer to self sufficiency, the International Energy Agency said on Monday. A landmark deal in 2017 between OPEC and other oil producers including Russia to curb output to reduce global oversupply materially improved the outlook for other producers as oil prices rose sharply throughout the year, the IEA said.

As a result, U.S. oil output has resumed sharp growth.....

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