Recent drops in the price of oil and gas have largely driven the Global Oil and Gas Exploration and Production industry's contraction over the past five years. Although the price of crude oil fell before 2015, the decline was minimal compared to the drops experienced in 2015 and 2016. Though rapid industrialization of countries like China and India boosted demand for petroleum products, high levels of production continue to pressure prices for crude oil around the globe. Industry revenue is expected to trend higher over the next five years; however, it will continue to face downward pressure. US production levels will continue to be strong, and the removed export restrictions could further encourage upstream companies to produce at strong levels in the United States.
Industry operators explore for, develop and operate oil and gas fields. This industry includes the production of crude petroleum, the mining and extraction of oil from oil shale and oil sands, the production of natural gas, sulfur recovery from natural gas and the recovery of hydrocarbon liquids. Transport, refining and marketing activities are excluded from this industry.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.