Even if all OPEC members and Russia were to comply 100 percent, global oil inventories could still rise by 700,000 b/d in 1Q 2020.
Europe’s Gas Distribution in Need of Evolution
Increasing interest in offshore drilling owes much to the industry’s success in reducing costs by between 30-40 percent and increasing productivity.
2020 is expected to be another record year for the region with average production above 1.9 million barrels per day.
The global market for Floating Production, Storage and Offloading vessels is headed for a major recovery.