Industry Trend Analysis - Oil & Gas: Key Themes For 2018 - FEB 2018

2018 will be an important year for the oil market as the market shifts into the upcycle. Improving market conditions will lead to both progress with projects delayed by the downturn, but also the continuation of fiscal discipline and growing focus on the shareholder. We expect this to check production growth in the US, but allow for some investment in new projects, especially offshore and LNG. We also see a reversal of recent demand trends, with developed market fuels demand growth to slow, and emerging market demand to strengthen.

Our five key themes for 2018 are as follows:

  • Shale to Underperform Expectations

  • Productivity Gains Slowing
    Permian Shale Oil Production By Year Of First Flow, b/d*
    *numbers on x axis = number of months in production. Source:, BMI

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