ENERGY 2023: THE FUTURE OF OIL & GAS
31 March 2020
Since we launched our predictions in December 2017, the most affordable renewable energies and the increase in electrification initiatives have continued to moderate global oil demand. Ongoing technological innovation, including the use of artificial intelligence to make better decisions and predict asset performance, in a context of proliferation of cyber attacks in industrial control systems, has also been consolidated.
This year, we offer new predictions on how the oil and gas industry will evolve by 2023. These are our predictions on how innovation, along with changing oil and gas priorities, will change the industry:
1. The prices of the American shale will stabilize in the next five years between $ 50- $ 60 dollars per barrel, as the growing demand for US products in Asia and Europe, and the increase in geopolitical uncertainty, offset the increase in their exports
2. The US oil and gas industry will experience greater revenue streams from expanded national and international markets, exporting to more than 45 countries.
3. The value of the business in the oil and gas industry will rise to new heights as larger companies try to buy medium-sized companies, and smaller companies seek consolidation to remain competitive.
4. Natural gas will represent 50% of the energy generated for electricity in the United States.
5. US LNG exports will grow as the country becomes the largest exporter in the world.