US energy minister: Shale oil production growth will not endanger market

Baku. 25 January. REPORT.AZ/ Department of Energy Secretary Rick Perry said Wednesday that the US is "blessed" to provide fossil fuel to the rest of the world. Report informs citing the Russian media.

Speaking at a panel on energy transformation at the World Economic Forum in Davos, Switzerland, Perry said that countries like the United States and Saudi Arabia were "blessed" for their abilities to provide fossil fuel globally and such countries help give the world a "better quality of life or better opportunities."

"We're blessed to be in counties with pretty substantial abilities to deliver to the people of the globe a better quality of life to those fossil fuels," said Perry.

Additionally, Perry says he is skeptical about the US Energy Information Administration (EIA) forecasts. Notably, EIA predicts that daily oil production in country to reach 10.3 mln bbl.

Following the announcement of the minister, the price of Brent oil rose to $ 71.05 / bbl which is the peak after December 2, 2014.