- In its annual World Energy Outlook, the IEA forecasts global energy demand will increase 37% by 2040, but "the short-term picture of a well-supplied oil market should not disguise the challenges that lie ahead as reliance grows on a relatively small number of producers."
- Crude production from U.S. shale oil fields is seen continuing to rise until the early 2020s but will then begin start to decline; replicating shale oil extraction outside of North America will prove difficult, as other new sources of oil supply are in expensive, complex and politically fraught locations, the IEA says.
- Investment of $900B/year in upstream oil and gas development is needed by the 2030s to meet projected demand, according to the report.
- Falling oil prices may cut investment in U.S. shale oil by 10% next year; in the Canadian oil sands - among the most expensive oil deposits in the world to exploit - an investment slowdown already is evident, and the IEA estimates ~25% of projects are at risk as prices fall.
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