Past experience can offer some guidance, but by every indication the global oil industry is heading into a new age, with unpredictable consequences.
Oil majors continue to ratchet up activity in U.S. shale, even as other producers cut back.
U.S. oil exports recently hit new highs with a record number of export destinations, but shale's recent woes mean continued success is not guaranteed.
Production gains cannot mask the problems facing the shale industry, but the offshore sector is seeing an increase in activity.
An extended period of lower commodity prices will continue to weaken earnings outlooks, making the prospect of merging with—or acquiring—E&P companies more attractive.
With global oil supply outpacing demand, oil traders are shrugging off rising tensions around the Strait of Hormuz.
The top forecasters for the oil market have repeatedly downgraded their estimates for demand. Absent a turnaround in global growth, the pitfalls for the oil market may only grow worse.
While the result from Vienna is ostensibly a success, there are obvious cracks in OPEC’s cohesion, as well as in its strategy to tighten up the market.
U.S. Sets Record for Oil Production Growth in 2018; U.S. Expected to Drive Global Supply Growth Through 2024
Both BP and the IEA expect U.S. production to drive global supply growth in the coming years, but uncertainty about shale's production trajectory was marked out as a potential concern.
Making a profit in the shale patch has been an uphill battle to begin with for many companies, but the latest crash in crude prices makes that task much more difficult. Bankruptcies could begin to rise if oil prices fail to rebound.