Day 1 at Davos: All the latest from WEF

Fatih Birol made a big call at last year’s Davos. Now he’s taking a victory lap.

The executive director of the International Energy Agency predicted last year that US oil production would skyrocket.

“We had a very bullish prediction and many people told us it was too bullish … so I said that we may revise it,” he recounted during a panel discussion Tuesday.

“We did revise it, but upwards,” he said.

“If anybody thinks we have seen the impact of shale evolution fully, he or she is making a big mistake,” Birol added.

The US became the world’s largest oil producer last year, surpassing Russia and Saudi Arabia. America’s oil output soared by more than 2 million barrels per day in 2018, the biggest jump ever recorded by any country.

Add a Comment

Your email address will not be published. Required fields are marked *

error: Content is protected !!