The United States will drive global oil supply growth over the next five years, adding another 4 million barrels per day to the country’s already booming output, the International Energy Agency said on Monday. U.S. oil output, including natural gas liquids (NGLs) and other hydrocarbons, will climb to 19.6 million bpd by 2024 from 15.5 million last year, the Paris-based agency said. Gross crude exports will double, leading to greater competition especially in the Asian market. Crude output in the United States will rise nearly 2.8 million bpd, growing to 13.7 million bpd in 2024 from just under 11 million bpd in 2018, the IEA said. The outlook points to pressure on demand for crude from the Organization of the Petroleum Exporting Countries […]