'Colossal' American oil boom could spoil OPEC's plans

OPEC and its partners have spent more than a year trying to drain the world of excess supply. A "colossal" oil boom in the United States could spoil their efforts.

This is the kind of stuff that keeps OPEC up at night. The oil cartel and key ally Russia have spent more than a year trying to drain the world of excess supply. But the International Energy Agency warned Tuesday that a "colossal" oil boom in the United States could ruin their efforts.