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US set to lead world oil production

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2 years ago

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http://www.euronews.com/ We won’t be using as much oil as was first thought this year or next. The International Energy Agency has trimmed its forecast for world demand.

The IEA, which is the industrialised countries’ energy watchdog reckon the demand for crude will drop by as much a 100,000 barrels a day next year.

The weak global economy and the impact of Hurricane Sandy were cited as two reasons behind the drop while the report added that, “rarely have so many things gone wrong in the oil patch at the same time.”

The report follows the agency’s prediction the US would overtake Saudi Arabia as the world’s largest oil producer by 2017.

It points out the production boost in the US has been made possible by new technologies helping oil, shale gas and bioenergy production.

The forecast could have huge geo-political implications for some countries especially China.

“It’s actually going to make it possible for the U.S. to pay less attention and actually foot less of the bill for protecting Middle Eastern oil supply and basically, in effect, say to China and other countries hey you guys are the big consumers now you guys have to step up and do your part,” explained Mike Wittner, Global Head of oil research at Societe Generale.

The report also predicts renewable power will become an indispensable part of the global energy mix by 2035, generating almost one-third of electricity on the planet the same amount as from coal.

It stresses there will have to be careful energy management for such a forecast to become a reality.

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The sustainable holiday hotspots

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20 minutes ago

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November 15, 2026

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In this episode of Spotlight euronews reports from the World Travel Market 2018 in London to see how sustainable and ethical travel is changing the face of the tourism industry. …
READ MORE : http://www.euronews.com/2018/11/12/the-sustainable-holiday-hotspots

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EU leaders bring Italy and Poland into Ukraine peace talks team as Kallas fights for spot

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2 hours ago

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November 15, 2026

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EU leaders bring Italy and Poland into Ukraine peace talks team as Kallas fights for spot

Europe has decided on a joint team for the peace talks led by France, Germany, the UK, Italy, Poland, the EU institutions and NATO. Despite mounting pressure, leaders declined to appoint a single envoy.

READ MORE : http://www.euronews.com/2026/11/13/eu-leaders-bring-italy-and-poland-into-ukraine-peace-talks-team-as-kallas-fights-for-spot

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Schools in Italy, Ireland and UK evacuated after hoax bomb threats that also target Meloni

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3 hours ago

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November 15, 2026

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Schools in Italy, Ireland and UK evacuated after hoax bomb threats that also target Meloni

Italian ministers suspect a deliberate strategy to spread fear, after similar hoaxes hit schools in Britain and Ireland and media outlets in Bulgaria.

READ MORE : http://www.euronews.com/2026/11/11/at-least-300-schools-in-italy-evacuated-after-emailed-bomb-threats

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Europe tells Russia: Our security architecture is for us to decide

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4 hours ago

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November 15, 2026

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Europe tells Russia: Our security architecture is for us to decide

European leaders have pushed back against Russia’s attempt to revise the continent’s security architecture as part of the Ukraine peace talks.

READ MORE : http://www.euronews.com/2026/11/12/europe-tells-russia-our-security-architecture-is-for-us-to-decide

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Europe Today: Ukraine peace talks continue in Abu Dhabi after ‘constructive’ first day

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5 hours ago

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November 15, 2026

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Europe Today: Ukraine peace talks continue in Abu Dhabi after ‘constructive’ first day

Ukraine, Russia and the US begin a second day of peace talks in Abu Dhabi after a first round Kyiv described as constructive, with a prisoner swap and security guarantees on the table. We also look at Black Sea attacks, Europe’s hybrid threats and Prince Harry’s visit to the European Parliament.

READ MORE : http://www.euronews.com/2026/11/11/europe-today-ukraine-peace-talks-continue-in-abu-dhabi-after-constructive-first-day

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