Oil & Gas UK - Business Outlook 2018/19
The picture below shows Oil and Gas UK's take on the sector for 2018. It provides some very useful facts and figures to give a broad sense of the state of the industry. Whilst we tend to agree with the general sentiment, the ever changing geo-political landscape in 2018 means that the energy sector remains volatile, although the general upturn in oil price is encouraging. In broad terms, you could say, the the price of oil has normalised at around 65 - 70 dollars a barrel.
This in-turn, should provide companies with a more steady basis in-order to help properly manage future investment decisions. The general industry-wide 're-setting' and knock-on efficiency drive following the the down turn around 3 years ago, means that some companies are very well placed to make good profits if the price of oil continues to rise. On the flip side some companies who under-invested during the down turn may find them selves cut a drift and not able to take full advantage of any significant market up turn.