Fatih Birol, executive director of the International Energy Agency, spoke to Paul Hickin about the new oil market dynamics unleashed by US shale production, challenges facing Venezuela, and heightened geopolitical risk.
In 2012, Fatih Birol predicted that the US would become the largest oil producer by the end of the decade. In an exclusive interview with S&P Global Platts at the IEA headquarters in Paris, Birol did not hold back in outlining the impact US supply is now having on OPEC. The ardent supporter of Turkish soccer team Galatasaray, who has never driven a car, is also worried that Middle East producers may score an own goal if they do not diversify their economies quickly.
