US tight oil production surges, but global progress slow
Global tight oil production is forecast to grow from 2.0 million b/d in 2012 to 5.7 million b/d in 2020 and 7.3 million b/d in 2030. The US accounts for the majority of tight oil volumes, with supply forecast to double from 1.8 million b/d in 2012 to 3.6 million b/d in 2015 and reach 4.9 million b/d in 2020. The pace of growth in the US has been unprecedented and challenges some of the biggest country increases in oil production history. The focus of activity in the US has been on two...