A “second wave” of U.S. shale oil growth that will bump U.S. light oil production by 1.4 million barrels per day (MMbbl/d) won’t be enough to meet rising global demand without significant investment, the International Energy Agency (IEA) said in its “Oil 2017” report.That could lead to another round of price volatility, the agency said.U.S. production growth will depend on price, Fatih Birol, executive director of the IEA, said on March 6 at the annual CERAWeek conference, where the organization released the report, formerly known as the “Medium-Term Oil Market Report.”
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