Rising US shale output may lead to early 2018 oil supply surplus – IEA:
"US shale oil companies will help production from outside the Opec cartel to grow faster than initially expected next year, with global supply and demand not forecast to balance until late 2018, the International Energy Agency said.
The Paris-based body said in its monthly oil market report, published on Thursday, that US drilling and well completion rates have picked up as prices have rebounded, meaning output is set to rise.
The uptick in production will be watched closely by oil forecasters and global producers, led by the Opec cartel and Russia, which joined forces last month to extend an agreement to curb supplies through 2018."
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