Globally, upstream oil and gas production is expected to decline by around -1.7% over the 2017 to 2021 period. Total production outlook to 2021 has decreased by more than 500 million barrels of oil equivalent (mmboe) when compared with the January 2017 report.
Albany, NY -- (SBWIRE) -- 05/11/2017 -- Recent drops in the price of oil and gas have largely driven the Global Oil and Gas Production industry's contraction over the past five years. Movements in oil and natural gas prices relative to production volumes play key roles in determining the industry's performance. Market Research Hub (MRH) has recently announced the addition of the latest study to its wide database, which is titled as "Monthly Global Upstream Review, February 2017- Decline in Global Capex Outlook". This study presents global oil and gas production outlook by region for the period 2017 to 2021. In addition to this, global liquids and natural gas production outlook by region for the same period is also given.
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As per the key findings, global upstream oil and gas production is expected to decline by around -1.7% over the 2017 to 2021 period. Also, the average Capital Expenditure (capex) is expected to decrease by a marginal -0.2% over the next four years. This research highlights all the major reasons for this decline. Additionally, global capex spending outlook on planned projects by key regions and companies are mentioned. With the help of specific insights on the global production and capex outlook, the buyers will able to develop business strategies for future spending patterns. As per the findings, among all the regions mentioned in the report, the number of planned projects coming online in the 2017-2025 period is expected to be the highest in South America, followed by Europe.
It has been also analyzed by the study that rapid industrialization of countries like China and India has boosted demand for petroleum products, high levels of production continue to pressure prices for crude oil around the globe. The report provides insights into the key economics metrics for the global upstream industry by foremost regions and companies. Total production outlook till the year 2021 has declined by more than 500 million barrels of oil equivalent (mmboe) when compared with the January 2017 report. By regions, US production levels will continue to be strong, and the removed export margins could further encourage upstream companies to produce at strong levels in the United States.
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By this report, the buyers will infer the details of major opportunities and challenges in the global upstream industry. Also, this report facilitates decision making information on the basis of a strong outlook for planned oil and gas production.
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