# International Energy Agency says the average rate at which oil and gas fields’ output declines over time has significantly accelerated globally. This is largely due to higher reliance on shale and deep offshore resources. The new IEA report states that the average global rates for annual post-peak decline are 5.6-percent for oil output and 6.8-percent for conventional natural gas. The IEA says without continued investment, the world would lose the equivalent of Brazil and Norway’s combined production from the global oil balance each year.
IEA says declines in output from existing oil and gas fields have gathered speed globally