US Energy Secretary: Global markets are awash in crude - Bloomberg

Global markets are awash in crude thanks to the surging US oil output and the record production looks set to continue, US Energy Secretary Ricky Perry said in a Bloomberg TV interview. 

Perry's take contradicts Goldman Sachs' view that the US oil growth may drop by 300,000 barrels per day to 700,000 barrels per day in 2020.

Key quotes

The US is a net energy exporter.

Goldman Sachs saying the US output growth is fading is "off a bit".