Whoever wrote the OP article does not seem to know what they are talking about in terms of what this would mean to America and world oil prices.
This article suggests that up to an addition 2.5 million barrels per day could be added to world supply and that this would 'contribute to a glut'.
The current world oil production is (according to Wikipedia) over 84,000,000 million barrels a day.
2.5 million is about 3% of that.
So by adding only 3% more to world oil production that will single-handedly cause a 'glut' and lead to North America 'drowning in oil'.
I highly doubt that.
After Saddam was overthrown, Iraqi oil production plummeted down to about 1.3 million barrels per day. Today it is over 3.4 million barrels per day, which is an increase of 2.1 million (not much less then the predicted Mexican increase). Did that cause a glut? Nope.
Iraq Crude Oil Production by Year (Thousand Barrels per Day)
List of countries by oil production - Wikipedia, the free encyclopedia
List of countries by oil consumption - Wikipedia, the free encyclopedia
Like most economic reporters, they are (IMO) prone to exaggeration.
I believe that the notion that adding only 3% to world oil production will cause a 'glut' is nonsense.
Will it help - sure.
But not to remotely the extent this reporter suggests by stating 'North America to drown in oil.'
As for oil prices?
5 Year Crude Oil Prices and Crude Oil Price Charts - InvestmentMine
In the last 5 years, oil prices have gone from over $140/barrel, down to under $40/barrel and back up to over $130/barrel...all without any large change in production.
Oil prices fluctuate FAR more due to reasons outside of oil production...especially in the short-medium term.