The global shale oil market is forecast to grow to a value of around $40.85 billion by the end of 2013. Around the world companies and governments are increasing their investment in shale oil exploration as they seek to emulate the development of the market in the United States.
The shale oil market has seen very strong growth in the US as operators increasingly divert investment away from shale gas towards crude oil extraction. As such the United States is also moving towards energy independence by drastically reducing expensive oil imports and rapidly growing domestic shale oil production.
The shale oil market is currently dominated by the US as this is where the methodology to develop hydrocarbons from shale was pioneered. The US also has a number of favourable characteristics that have helped promote the speed of shale oil production. However, this has created a distinctly two tier market between the nations with an established shale oil market and less mature and more rapidly developing markets.For more information on the Global shale oil market, please click here: Global shale oil market
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