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LONDON--A shale oil boom means the U.S. will overtake Saudi Arabia as the world's largest oil producer by 2020, a radical shift that could profoundly transform not just the world's energy supplies, but also its geopolitics, the International Energy Agency said Monday.
In its closely watched annual World Energy Outlook, the IEA, which advises industrialized nations on their energy policies, said the global energy map, "is being redrawn by the resurgence in oil and gas production in the United States."
U.S. set to overtake Saudi in oil output: IEA - MarketWatch"By around 2020, the United States is projected to become the largest global oil producer" and overtake Saudi Arabia for a time, the agency said. "The result is a continued fall in U.S. oil imports (currently at 20% of its needs) to the extent that North America becomes a net oil exporter around 2030."
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