USA oil & gas production trends 2020
Oil & gas production as a primal industry sector
Oil&gas industry has always been a key direction for Triol Corporation. The trends are changing with the speed of light, depending on many factors which obviously affects the US market as one of the most influential elements of the vast system called the global oil market.
Every day we perfect our technologies to stay relevant and meet more and more possibilities for our products on the market. So, studying and researching the dynamics we see crystal clear what new approaches we have to implement while developing a certain product.
From engineers to CEO – everybody knows about industry breakthrough area – shale oil&gas production. The United States proudly owns the name of the world’s biggest oil producer, thanks to a shale revolution.
US shale revolution: how it affects world markets?
The shale revolution had a significant impact on the global market right from its start. The US becomes a net exporter of both oil and gas, and exports will continue to grow exceptionally stated the International Energy Agency.
US production growth is devouring most of the annual increases in global oil demand (around 1m b/d), leaving market leaders a little or no scope to increase their own exports or revenue.
US exports are also reshaping the world market for natural gas. The latest break-in gas exports, built on the growing volumes, transfer into a global overstock. Prices can only fall further and expectations of price growth in the early 2020s look irrelevant.
What to expect?
The revolution still continues and grows its potential word-wide. The situation is beginning to change as shale development now covers Argentina and Canada at a large scale. The global shale revolution has barely begun, and we’re not expecting quick changes, but working on how Triol Corporation fits with solutions that anticipate their time.