US fracking has supplied 6 million barrels per day of the total 10.5 million barrels per day of increased oil demand. Almost all of the new oil demand came from Asia.
Around 2030, China should have $20,000 GDP per capita. Even with a lot more electric cars and buses, there will still be a substantial demand for more oil.
Oil supply has mostly stayed ahead of demand for the last few years despite the production problems in Venezuela. The growth in US oil production is slowing down. Increasing demand will get ahead of supplies in the next few years.