Updated on September 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:
- The freight market continues to undergo changing market conditions, but in recent months those with exposure to the industrial side of the economy have experienced a sizable slowdown.
- Lower interest rates are on the way, which should provide a boost for oil and gas companies that have had capital on the sidelines to deploy moving into 2025.
- Despite the higher interest rate environment, domestic oil production set a new all-time high in July.
- Crude inventories have been drawdown consistently since mid-June and if they follow a similar trend to 2023, they could reach worrisome levels, especially in Cushing, Oklahoma.
- September 30 is the date to watch as there is potential for an ILA strike beginning on Oct. 1. This would impact port operations along the East and Gulf coasts and could cause significant disruptions to those not prepared.
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