A second wave of production growth from U.S. shale may be forecasted by the International Energy Agency (IEA), but OPEC Secretary-General Mohammad Barkindo is not fazed.

Instead, Barkindo told attendees of CERAWeek by IHS Markit on March 11 he not only welcomes the revival of the U.S. oil and gas industry but attributes its strong rebound partly to the cooperation between OPEC and non-OPEC producers led by Russia over the past couple of years.

Despite restored confidence in the U.S., Barkindo issued a warning for the need of additional oil supply growth, not only from the U.S. but other regions as well, in order to meet global oil demand, which he said will remain strong.

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