At the 2024 ADI Forum, Uday Turaga, CEO, ADI Analytics, provided an analysis of anticipated trends, challenges, and opportunities within the oil and gas industry for 2024. The U.S. energy outlook showed stable oil prices and a current natural gas oversupply, creating challenges for producers, though the U.S. remained a net energy exporter. Oil demand growth was moderating, with U.S. supply growth predominantly from Permian shale and deepwater plays. The refining sector faced moderating crack spreads and competitive shifts in crude sourcing.
The Biden administration’s pause on LNG export permits was a major concern, potentially impacting global LNG supply and benefiting non-U.S. projects. Midstream opportunities were in new pipelines and NGL infrastructure. The industry was seeing increased efficiency and consolidation upstream, but stagnation in well productivity in some shale areas highlighted a need for broader innovation.
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ADI is a prestigious, boutique consulting firm specializing in oil and gas, energy transition, and chemicals since 2009. We bring deep expertise in a broad range of markets where we support Fortune 500, mid-sized and early-stage companies, and investors with consulting services, research reports, and data and analytics, with the goal of delivering actionable outcomes to help our clients achieve tangible results.
We also host the ADI Forum that brings c-suite executives together for meaningful dialogue and strategic insights across the oil & gas, energy transition, and chemicals value chains. Learn more about the ADI Forum.
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