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Why the IEA is worried about an oil supply crunch

Data: International Energy Agency; Chart: Axios Visuals

The International Energy Agency's new five-year oil market outlook warns that surging U.S. oil production might not be enough to prevent inadequate global supplies in a few years.

Why it matters: The annual report released Monday signals that despite the price rebound and a major upward revision in U.S. production estimates, the agency remains concerned about the shape of the global market as soon as the early part of the next decade.