Updated on June 3, 2024
This State of the National Oil & Gas Industry report aims to provide a comprehensive analysis of transportation and logistics for the oil & gas industry, shedding light on its key drivers, trends, and emerging technologies. By examining the current landscape and forecasting future developments, we seek to equip executives, industry managers, and stakeholders with valuable insights to navigate the ever-evolving logistics landscape.
Highlights for the oil & gas report include:
- Capacity continues to bleed from the market as outside influences are having larger impacts to transportation markets.
- Inflation remains top of mind for Federal Reserve officials who are reluctant to cut rates before inflation approaches the 2% target.
- Housing demand continued to suffer as a result of higher mortgage rates, which continue to hover around 7%.
- Domestic oil production suffered in April, but production is forecasted to grow until at least the third quarter.
- Crude oil prices have largely shaken off the disruption in the Middle East as demand weakness in China continues to be a headwind for OPEC.
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