Analysts also said prices were propped up by "bullish comments" from ministers from the Organization of the Petroleum Exporting Countries and other global industry players at the CERAWeek conference in Houston, the largest energy conference, on Monday.
The energy group forecasts that the USA will supply enough oil to meet 80 percent of the growing demand over the next three years, and Canada, Brazil and Norway will meet the rest.
Oil demand will keep expanding over the next five years, and the United States will fulfill most of the world's growing appetite, the International Energy Agency said on Monday.
The deal struck between the members of OPEC and 11 partners, including Russian Federation, to cut 1.8 million barrels per day of crude oil production has had its intended effect of drawing down global stockpiles and lifting prices.
Oil prices rose Monday, supported by reports of supply disruptions in Libya over the weekend.
OPEC and other major producers agreed to cut combined output by about 1.8 million bpd to drain a global oil glut. The contract was well below this year's highs of over $71 per barrel that it hit in January.
"As Canadian shipments to the US grow, this frees up lighter USA crude for export, particularly to meet Asian demand for petrochemical feedstock", the IEA said.
The IEA, which advises industrialized nations on energy policies, also said it expected oil demand growth to average a fairly robust 1.1 percent a year to 2023 and said OPEC would fail to significantly increase its production capacity.
As a result, Canada will actually be the third largest source of non-OPEC oil supply growth in the next five years after the USA and Brazil. That would take USA liquids output to a total of 17 million barrels a day.
Ecuador's Perez also downplayed the impact of US shale production on global crude markets, noting that shale fields tend to have lower total oil recovery than conventional fields.
She cautioned however that part of the reason Canada's oil supply growth wasn't expected to be larger is due to delays for export pipelines like TransCanada Corp.'s Keystone XL and Kinder Morgan Canada's Trans Mountain expansion project.
However, American production from known shale-oil reserves is soaring.
The Paris-based agency saw little to no increase in spending on exploration outside the USA in 2017 and 2018, and warned that additional investment will be needed to spur supply growth after 2020. It expects US crude product to exceed 11 million barrels a day by 2023, a figure that does not include NGLs and condensates. "If sufficient capacity is not built, the increase in production we foresee could be at risk, with serious implications for global markets".
The Sheriff's Office said their investigation is transitioning from a missing person's report to a homicide investigation. The body of a mother who mysteriously disappeared from her front yard leaving her two children home alone has been found.
The figure raised hope that the disruptions from dramatic policy moves by Prime Minister Narendra Modi a year ago may have faded. With these numbers, India has regained the status of world's fastest-growing major economy and has beaten China after one year.
Spurs responded and won a corner in the third minute, but it came to nothing and the game showed no signs of settling down. The South Korean said Tottenham thrived from playing at their temporary home after taking some time to settle in.
Trump spoke 32 minutes, longer than normal.At one point, a woman heckled Trump to "stop", and had to be shushed by tablemates. Trump accepted an invitation to the 133rd anniversary dinner, his first given that he declined to attend past year .
The first day is called Holika Dahan or Chhoti Holi and the second as Holi , Rangwali Holi , Dhuleti , Dhulandi , or Phagwah . Google symbolically joined millions of people in celebration of Holi festival with today's (Mar. 2) Google Doodle .
Bannister, who went on to pursue a long and distinguished medical career, had been slowed by Parkinson's disease in recent years. He was "surrounded by his family who were as loved by him, as he was loved by them", the statement said.
Sometime after midnight police took 19-year-old James Eric Davis into custody said an officer with Mount Pleasant Public Safety. The police took him to McLaren Central Michigan hospital in Mount Pleasant, Michigan and handed him over to the medical staff.
As the snobbish Winchester, Stiers was a ideal foil for Alan Alda's lovable, wise-cracking character Hawkeye Pierce. Emmy Award-winning actor David Ogden Stiers has died at his OR home, following a battle with bladder cancer.
Andy King, who scored his first Swansea goal in the win over the Hammers , said: "They were brilliant, they don't stop running". Everton's misery was compounded when defender Ashley Williams was sent- off late on for elbowing Barnes. "We have more to do".
Protectionism is a tool that has been employed by Mr Donald Trump's predecessors, including Republican President George W. Along with the 10 percent tariff on imports of aluminum , there would be a 25 percent tariff on imports of steel.
Rockets Win Streak Hits 15 Games With Win Over Celtics
A big factor in the Celtics' offensive surge has been their ability to shoot the ball well from the floor and from 3-point range. Harden, the NBA's leading scorer, comes into Saturday's game averaging 31 points per game and almost nine assists per game.