IEA: US Oil Boom To Extend Into 2015, Risks High

"Newly industrialised and emerging market economies are once again forecast to lead the gains," it said.

The world's second largest oil consumer, China, will see oil demand growing by 4.2 percent, up from 3.3 percent this year, while the largest oil user, the United States, will only see gains of 0.2 percent to 19.1 million barrels per day, up from a growth of 0.6 percent this year.

North America Leads Supply Gains

The IEA said it expected nonOPEC supply growth to average 1.2 million bpd next year, in line with increases in 2013 and 2014.

"The U.S. and Canada remain the mainstays for growth, but sources are expected to be more diverse than in 2014," said the IEA, naming Brazil, Britain, Vietnam, Malaysia, Norway and Columbia among countries which will grow output in 2015.

North America will remain the leader in 2015, contributing about twothirds of the net nonOPEC supply increase compared to 85 percent in 2014.

U.S. light tight oil, mostly from North Dakota and Texas, as well as Canadian bitumen, represent well over half of 2014 nonOPEC supply growth, the IEA said.