The United States has become one of the biggest new producers of energy in the world, but it will not start large-scale exports.
The traditional energy exporters in the Gulf will continue their dominant role in global production, said the head of the International Energy Agency.
"The United States will never be a major oil exporter. Their import needs are getting less but the US is not becoming Saudi Arabia," said Mr Fatih Birol, the agency’s director.
"Their production growth is good to diversify the market but it will not solve the world's oil problems."
It was energy production in countries outside Opec which contributed to today’s glut in oil supply, but Mr Birol predicted that production in new producers, such as the US, Canada, and Brazil, will eventually slow, leaving the Middle East as key providers.
Last year, the Middle East had oil revenues of $1 trillion. The IEA now estimates that the new lower price, down by almost 60% since June, will reduce revenues by more than half to $400bn.
The agency also predicted that global demand will not increase this year.
