U.S. oil boom fuels non-OPEC supply growth.

 Thanks to U.S. shale oil, demand for OPEC crude will remain largely unchanged over the next five years, the IEA said in its semi-annual report. "Output growth from North America dominates the medium-term growth profile," as U.S. liquids production should increase by 2.8M barrels per day by 2018, accounting for half of non-OPEC growth during the period. Total U.S. output five years from now should reach 11.9M barrels per day, or around 20% of the projected total of 59.3M barrels per day of non-OPEC supply