IEA: North American countries help boost global oil supply

08/12/2013 | United Press International

Global oil production increased by 515,000 barrels in July due in large part to strong supply gains by non-OPEC members such as the U.S., according to a report by the International Energy Agency. The latest data gathered by the IEA shows that U.S. oil production in May grew to 297,928 barrels, or 13.2%, compared to the same period last year. For the second half of 2013, the agency predicts that North American oil producers will help drive supplies from non-OPEC members by an average of 1.4 million barrels per day.

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