Offshore, oversupply means 2019 optimism still bound by caution

摘要

Petroleum sector analysts,pointing to a contradictory mix of market forces,paint a picture of a global offshore drilling industry that is likely to experience slow but steady growth in 2019.In its quarterly Drilling and Production Outlook report issued at the end of September,Spears and Associates predicted that international oil prices will remain strong in response to continued global oil demand growth,low global oil inventories and increased geopolitical uncertainty.The report also concluded that,although US oil prices will rise relative to international prices,WUS operators are expected to maintain a high degree of capital discipline going forward,slowing the ?rate of growth in US drilling activity.