BBC: US Shale Oil Supply Shock Shifts Global Power Balance

From the BBC via Ace:

Over the next five years, the US will account for a third of new oil supplies, according to the International Energy Agency (IEA). 

The US will change from the world's leading importer of oil to a net exporter.
Demand for oil from Middle-East oil producers is set to slow as a result. 

"North America has set off a supply shock that is sending ripples throughout the world," said IEA executive director Maria van der Hoeven. 

The surge in US production will reshape the whole industry, according to the IEA..