Top 4 Indicators Shaping Upstream Oil and Gas in 2019
Opportune takes a look at a few key indicators shaping the upstream oil and gas sector so far in 2019.
The first indicator is the continued climb of U.S. shale output, which is estimated to set records this year and next.
On the subject of supply and demand, the United States is expected to continue leading growth in oil supply worldwide, as global consumption of petroleum and liquid fuels show relative growth.
Liquid natural gas production reached a record high at the end of 2018, and export capacity will grow significantly.
The bad news for producers, however, is that increased production will limit price increases.