2022 Oil Industry Outlook in East Hartford CT
If you're curious on the 2022 Oil industry Outlook in East Hartford CT, then keep reading on. Brother's Oil is happy to share some trends we've noticed as we continue into this transformational year.
As we move further into 2022, many oil companies have been practicing capital discipline and focusing on financial health to commit to climate change. and transforming business models. In a survey done by Deloitte, they found some interesting facts about oil executives. Nearly two-thirds of Oil executives stated they’re highly positive about strategic changes made by their organizations.
Influencing the Industry Direction
Furthermore, the journey of transformation has just begun for the oil industry. Over the next 12 to 18 months, executives should be taking certain steps to positively influence the industry direction. Over the next year, we'd suggest doing the following
Streamlining and optimizing your resource portfolios.
Embracing and developing smart goals for energy transition.
Attract, train, and retain employees in the tight labor market.
Come to terms with additional environmental, social, and governance (ESG) requirements.
If we make sure to do this, we can make a positive change. Our 2022 oil industry outlook explores three trends. These include oil price impacts, mergers and acquisitions, and oil field services.
3 Oil Industry Trends To Keep An Eye On:
After turning negative in April 2020, oil prices have finally recovered to around $80/bbl. However, as a consequence, high oil prices have been assumed to cause slow energy transition. However, according to a survey, 76% of Oil executives state oil prices above $60/barrel are likely to boost their energy transition.