Global Oil and Gas Market: basic trends



After several years of crunch , the oil and gas industry demonstrates signs of revival given the ramping up of U.S. oil and gas production and the sense of optimism that is sweeping the sector. In general, the industry feels much healthier than it did 12 months ago: the price of oil has rebounded. After appearing limited to a range between the mid-$40s and $50 per barrel, Brent crude is now trading above $60. The industry is thus recovering from the brutal last few years of weak prices. The fundamental challenge, of course, is the intrinsic volatility in the sector facing serious problems.

1. Global Oil & Gas Exploration & Production Industry - Market Research Report, May 2019.
2. Statistical Review of World Energy, June 2018
3. Global Energy Statistical Yearbook, 2019
4. Oil and Gas Trends 2018-2019. PWC, 2018.
5. Drilling Productivity Report. EIA October 15, 2019.
Key words: oil, gas, global market, perspectives, obstacles

Mining Industry Journal №4 (146) 2019, p.24