The International Energy Agency now expects that the United States will account for nearly 33% of all oil production growth over the next five years. This news has been unsettling to several members of OPEC that are worried about the increase in supply outstripping the growth in demand. If this comes to fruition, which most consumers are hoping for, benchmark prices for Brent crude oil could drop below $100 per barrel.
Thanks to up and coming plays like the Bakken and the Eagle Ford, quite a few companies have been building some noticeable momentum. If their pace is maintained, OPEC countries like Algeria and Nigeria could be hit hard by price reductions while Saudi Arabia remains happy with the current production levels of the organization. We will stay tuned in to the OPEC meetings in Vienna on Friday, but until then, check out the companies mentioned below that investors stand to gain from.
One such company is Kodiak Oil & Gas -- a dynamic growth story to say the least. It offers great opportunities, but with those opportunities come great risks. Before you hitch your horse to this carriage, let us help you with your due diligence. To find out whether Kodiak is currently a buy or a sell, you're invited to check out The Motley Fool's premium research report on the company, which comes with a full year of updates and analysis as key news breaks. To get started simply click here now.
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