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Global shale oil market: Next decade to see strong growth outside North America
The Shale (Tight) Oil Market 2013-2023 - a new market research report on 2014-04-21 23:34:02
The value of the global shale oil market in 2013 will reach $40.85bn. The shale oil market has seen very strong growth in the US as operators increasingly divert investment away from shale gas towards crude oil extraction. As such the United States is also moving towards energy independence by drastically reducing expensive oil imports and rapidly growing domestic shale oil production. Around the world companies and governments are increasing their investment in shale oil exploration as they seek to emulate the development of the market in the United States.
The shale oil market is currently dominated by the US as this is where the methodology to develop hydrocarbons from shale was pioneered. The US also has a number of favourable characteristics that have helped promote the speed of shale oil production. However, this has created a distinctly two tier market between the nations with an established shale oil market and less mature and more rapidly developing markets.
Investment in shale oil exploration outside of North America will grow strongly over the next decade while the US market will maintain its position as the epicentre of the shale oil market. The report provides in-depth analysis of the emerging international shale oil market and gives insights into the unique characteristics of each national market and its growth potential.
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