2018 Oil and Gas Industry Outlook
Trends, opportunities, and predictions
What is the current state of the oil and gas industry and where is it heading? What trends have we experienced and what impact should we expect? Read about the state of the industry in Deloitte’s 2018 Oil and Gas Outlook, a take from John England, US Energy & Resources leader and the US and Americas Oil & Gas leader, Deloitte LLP.
- Changing times in the oil and gas industry
- John England's take on 2018
- Access the archive
- Additional perspectives
- Look again
Changing times in the oil and gas industry
When the crude oil export ban was lifted in January 2016, many broadly viewed it as good for the industry and free trade but were not quite sure about its impact. 2017 was the year the United States confirmed its growing status as an energy exporter. Some may see our newfound energy strength as allowing us to go further down an isolationist path as we seek the dream of energy independence. Another view might be that our strength as an energy supplier simply gives us more leverage in the global, free trade economy that the United States has historically supported.
Although still a net importer of crude, our growing place as an energy exporter and low-cost supplier could fundamentally change our position in the global energy landscape.
Download the outlook for further insight on the current and future state of the oil and gas industry.
John England's take on 2018
It’s been an interesting 2017 as the news cycle has been dominated by politics, natural disasters, and tense geopolitical challenges; also, the oil market is still challenged by high stocks and sluggish prices. From an energy perspective, we were busy watching: a) OPEC extend its cuts and adhere to them, b) US producers increase production and keep costs down, and c) demand increase enough to give us hope but not yet enough to really move the needle.
In the meantime, we experienced Hurricane Harvey in Texas, which reminded us of what’s really important in life and of the indomitable spirit of Texans (and many Louisianans who came to our aid). For me, Harvey also reinforced that we we do as an energy industry is important to the world and something we should look upon with pride.
Power and Utilities Industry Outlook
The power and utilities industry is on a journey of important change. It is experiencing changes in technology, generation choices, customer empowerment, regulations, and risk. These changes could gain even more momentum as we move into 2018, in a world where the expanding potential of digitalization allows utilities to be more nimble and adaptable.
Read our 2018 Power and Utilities Industry Outlook.
Renewable Energy Industry Outlook
Recent years have seen accelerating market presence for renewable and distributed energy, driven by technological progress, declining costs, and evolving societal and consumer preferences. As renewable energy adds scale, the favorable underlying forces look set to remain strong; although, we may see near-term headwinds in a more uncertain regulatory environment.
Read our 2018 Renewable Energy Industry Outlook.
In today’s rapidly evolving marketplace environment, key business issues are converging with impacts felt across multiple industry sectors. What are the key trends, challenges, and opportunities that may affect your business and influence your strategy? Look for more perspectives and insights from some of Deloitte’s forward thinkers.