The energy watchdog forecast USA supply growth will push its output past 10 million barrels per day (bpd), overtaking Saudi Arabia and rivaling Russian Federation.
Rising prices have, in turn, made it more attractive for shale companies to increase drilling.
Brent crude futures LCOc1 were trading 69 cents as below as $68.53 a barrel at 11:22 a.m. EST (1622 GMT).
It is for more than 35 years that the natural gas of country is exported to other countries via pipelines connected to Pakistan and India, so that it can be said that designing a strong and influential diplomacy in gas exports is considered as one of the most important priorities in the field of country's energy diplomacy.
New forecasts from the International Energy Agency say the United States is on track to overtake Saudi Arabia as the second-largest oil producer in the world, just behind Russian Federation, according to the organization's report on Friday.
For now, the extra crude from the U.S. is meeting growing demand as the world economy expands at a strong pace.
The Energy Information Administration showed production levels at 9.75 million barrels last week.
The five-year average is around 420 million barrels, so stocks are now at a 3-year seasonal low.
Oil rebounded after slipping below $69 a barrel on Thursday, supported by a record drawdown of US crude stockpiles at the Cushing, Oklahoma delivery hub, despite concerns that OPEC-led output cuts will increase supply from the United States.
The global demand for oil this year is predicted to rise over a million barrels a day.
The key stabilizer credited with bringing strength back to the market has been the OPEC, no-OPEC production cut agreement. "Demand is going to continue to surprise on the upside".
But the forecast was balanced by figures in the report showing OPEC's compliance with the supply cuts remained high in December and a further sharp slide in Venezuelan oil output.
Al Mazrouei said, "all of those give the right signals to market and we have seen the market giving us back right signals in terms of reducing inventories, in terms of approaching market recovery and we are in good shape, I'm optimistic the rest of the year will be good as well".
This weekend's meeting in Oman will set the scene for the year ahead.
It comes after US President Donald Trump a year ago vowed to withdraw his country from the Paris Climate Change Agreement, claiming signing the accords had harmed the US' economic prospects.
Throughout the game, the Rockets capitalized on their 46 rebounds and 19 turnovers by the Warriors to come out on top. Jimmy Butler led Minnesota with 23 points, and Karl-Anthony Towns added 22 points and 16 rebounds and five blocks.
Baylor's offensive rebounding often improves its chances, and it was that aspect of the game that kept the Bears alive Saturday. Three-Point Goals: 7-18, .389 (Newman 3-4, Graham 2-6, Vick 1-3, Mykhailiuk 1-4, Garrett 0-1).
According to the Center for Disease Control, murder rates are highest among non-Hispanic black women and Indigenous women. In New York City , an electrified crowd - estimated at more than 120,000 people - stretched for some 20 blocks.
Indian forces on Friday resorted to unprovoked ceasefire violations along the Working Boundary for the second consecutive day . As a result, Muhammad Irfan, 24, in village Merajke and Wasim Akram, 30, and Bashir, 56 in village Charwah were martyred.
A number of journals kept by the children found at the home will play a significant role in their parents' criminal trial. Robinette said she had always asked her sister about the size of her children because they were so small.
Another Democrat President Bill Clinton faced White House shutdown twice during his tenure between 1992 and 2000. Barack Obama administration had extended them protection. "Shutdown coming?" he tweeted to begin the day Friday.
Maybe in the future more clubs will spend more than £100 million (RM546 million) on one player, like some teams already have. The Portuguese coach added that he will inform the media on his view on Sanchez if they eventually sign the Chile global .
The physician spent roughly an hour answering reporters' questions about Trump's exam, many of which focused on his mental state. Trump's disparaging comments received quick condemnation in the civil rights community and across the political spectrum.
It would be shocking if Brady does not try to play on Sunday, but the bigger question is what level Brady will be able to play. When the Jaguars run: Jacksonville racked up the most rushing yards in the National Football League during the regular season.
What we learned from 365 days of Trump polls
Of the 134 countries, approval ratings declined sharply in 65 of them - many of which are US allies and partners. But in that poll, Trump's approval rating was lower than it was in December, when it stood at 41 percent.
Eagles-Vikings NFC Championship Game Predictions
When a team hasn't been to a Super Bowl in a long time , it creates even more pressure and excitement once it reaches this point. When the Eagles and Vikings meet for the NFC championship, it will be all about defense. "That, and it is a matter of will.
Brady (hand) will start versus Jags
Can they put pressure in the pocket? I suspect that it could be a minor factor in the game, but it won't be a major deterrent. The Vikings' defense has gone from worst to first since Mike Zimmer was hired as head coach prior to the 2014 season.