Every year, the leaders and founders of worldwide global energy companies gather in the United States to examine, analyze and discuss the issue of global energy industry moving and try to determine short-and long-term prospects in this area. Below are the main theses regarding the oil and gas trends of 2019, which were most often discussed during the conference with the participation of heads of world energy companies.
- The USA is extensively developing the export of petroleum products. Many oil and petroleum products developing companies in a short time changed their direction of the business – from import to export. According to forecasts, in 5 years the USA will export more oil than Russia. And in 10 years – more than Saudi Arabia.
- Over the past 10 years, 50% of the global demand for oil gets China.
- The United States processes significantly more petroleum products than China
- The share of consumption of petroleum products by all cars in the world is only 20% of the total petroleum products production volume.
- In the foreseeable future, oil and gas will still be the main sources of energy on Earth. At the moment, there is no full-fledged alternative to them.
As many researchers of trends in the oil and gas industry assure, there is every reason to believe that in the oil and gas industry, after a long-term crisis of overproduction, there may be a tendency to its rapid movement towards the crisis of supply. You can find that hard to believe taking into account the fact of an intensive increase in oil production in the USA and in the world in general.
The current situation is much better than a year ago: the oil prices have been stabilized. If even some time ago the oil prices seemed to be set for a long time in the range of proximately $45 now Brent crude oil is being traded at the level of more than $70. Thus we can see the recovering of the oil and gas industry after the hard period when over the last couple of years were being dominated low prices were maintaining strict financial discipline and were restructuring the assets.
Oil and gas industry in 2019
The trends in the oil and gas industry remain unchanged. And this is the first and the major trend in the oil and gas industry, which should be paid attention to in 2019. Undoubtedly oil and gas supplying is still the main trend in the energy sector of 2019. Nevertheless, there are several problematic issues that will affect the oil and gas supplying process on a global scale. It’s about the problems with Venezuela and Iran, as well as Qatar’s exit from OPEC.
The second direction which also should be paid attention to in 2019 is energy alert. Thanks to the largest gas and oil companies, it is now possible to get much more realistic, expert overview of what is going on in the oil and gas industry, and a truthful forecast of future events in this sector.
Energy policy is the third important trend in the oil and gas industry in 2019. Substantially to impact on oil production in 2019 can the strengthening Federal control of methane production and the vesting of the increased autonomy for the oil-producing sectors in the United States.
The only thing that can make the situation unpredictable is the change in the ranks of Organization of the Petroleum Exporting Countries, especially in terms of how the most significant “oil” countries manage their energy policies.
