Updated on October 1, 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 first interest rate cut happened in September, but it's likely too late in the year to significantly impact demand.
- Domestic oil production hit a new all-time high in August and expectations are for production to increase throughout 2025.
- Despite the higher interest rate environment, domestic oil production set a new all-time high in July.
- Crude prices have been under pressure in September based on demand weakness in China.
- The potential International Longshoremen's Association strike will impact both imports and exports into the East and Gulf Coast ports. The duration of the strike will determine the magnitude of the impacts.
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