World Oilfield Services Market Forecast 2017-2021
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Douglas-Westwood's quarterly publication The World Oilfield Services Market Forecast provides unique insight into the global oilfield services (OFS) market. The product delivers historic, current and future drilling, completion & workover expenditure, forecasting 21 common oilfield service lines including rig & crew, cementing, well testing, logging and production chemicals.
Douglas-Westwood's (DW) NEW quarterly publication The World Oilfield Services Market Forecast provides unique insight into the global oilfield services (OFS) market. The product delivers historic, current and future drilling, completion & workover expenditure, forecasting 21 common oilfield service lines including rig & crew, cementing, well testing, logging and production chemicals.
With a forecast through to 2021 and utilising a proprietary methodology, DW's World Oilfield Services Market Forecast provides granular analysis of a market which is expected to steadily increase from $178 billion (bn) in 2016 to $252bn in 2021, after falling 52% over 2014 to 2016 as a result of the oil price crash. Following OPEC's co-ordinated production cut, DW expect a rebound in US unconventional drilling activity, with the global OFS market set to see 5% year-on-year growth over 2017-2021.
The forecast includes a regional assessment of total OFS spending, with additional in-depth analysis of each service line at a national level (country-by-country breakdown of the top 30 country markets for oilfield expenditure). DW's detailed service line models include workover, as well as drilling and completion for the onshore & offshore markets, providing unparalleled insight into the OFS sector.
Taking into account the latest macro-economic trends through explicit commodity price inputs to all service line models, DW's OFS forecast provides up-to-date analysis of one of the most important and fast moving markets in the oil & gas sector.
DW's new Sectors online data and analysis service (drilling & production database) generates the wells drilled forecast which drives DW's OFS forecast. Sectors is continuously updated, providing detailed hydrocarbon production and drilling data for 66 countries worldwide, covering 98% of global production. This established foundation provides a base for the further modelling of footage and drilling days - key drivers of OFS spending.
The World Oilfield Services Market Forecast contains: