Oil production capacity is surging in the United States and several other countries at such a fast pace that global oil output capacity is likely to grow by nearly 20 percent by 2020, which could prompt a plunge or even a collapse in oil prices, according to a new study by a researcher at the Harvard Kennedy School. (dotearth.blogs.nytimes.com)
The United States will account for 60 percent of global oil output growth through 2023, the International Energy Agency says. (cnbc.com)
ENERGY: Oil prices pushed ahead amid speculation of a production freeze after the world's two largest oil producers, Russia and Saudi Arabia, agreed to act together to stabilize global oil output. (sandiegouniontribune.com)