The U.S. is expected to account for a quarter of this year's global upstream spending, which is projected to reach up to $630 billion, said Phjani Gadde, senior upstream business analyst for Wood Mackenzie. More than $72 billion will come from U.S. shale oil, mostly from the Eagle Ford Shale, the Bakken Shale and the Permian Basin. Gadde added that daily shale oil output in the U.S. will reach approximately 5.8 million barrels by 2020.

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