Global Shale Oil Market 2018-2022
About Shale Oil
Shale oil is a type of unconventional crude oil that's found in shale formations, which requires to be hydraulically fractured to extract the crude oil. Horizontal drilling techniques and hydraulic fracturing have resulted in increased oil and natural gas production from shale rock.
Technavio’s analysts forecast the global shale oil market to grow at a CAGR of 5.07% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global shale oil market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Shale Oil Market 2018-2022
Technavio recognizes the following companies as the key players in the global shale oil market: BP, Chevron, ConocoPhillips, Exxon Mobil, Royal Dutch Shell, and Statoil.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is supercritical carbon dioxide in shale oil fracking. Hydraulic fracturing or fracking process uses gallons of water and chemicals for opening the pores of the rock formation. However, non-aqueous fracking fluids such as supercritical carbon dioxide have been increasingly adopted as a replacement of water in the fracking process.”
According to the report, one driver in the market is increasing consumption of oil and natural gas. With the rising industrialization and urbanization, the consumption of oil and gas has increased considerably over the last few years. According to this research report on the shale oil market, this increased consumption of crude oil and gas across different end-user segments will be one of the key factors fueling the market’s growth during the next few years.
Further, the report states that one challenge in the market is uncertainties associated with low crude oil prices. The oil and gas industry depend vastly on the commodity prices. Any fluctuation in the crude oil prices defines the performance of the majority of the upstream sector companies.
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