GOOD: US shale oil supply shock rocks global power balance.

Over the next five years, the US will account for a third of new oil supplies, according to The International Energy Agency (IEA).

The US will change from the world’s leading importer of oil to a net exporter.

Demand for oil from Middle-East oil producers is set to slow as a result.

“North America has set off a supply shock that is sending ripples throughout the world,” said IEA executive director Maria van der Hoeven.

Like I said, good.