Top Oil and Gas Stories That Shaped Industry In 2018
What can we make of oil and gas in 2018? The year started out with much promise for producers and, despite hiccups along the way, it was still a good year to be in the business.
Oil prices started high, but fell. However, rig counts rose and billion-dollar deals took place. The Permian Basin continued to proliferate. The Bakken returned to the spotlight.
U.S. shale producers upped their game in 2018, setting a record for oil production. They also exported more oil and gas than ever before, making the country a net oil exporter for the first time.
Geopolitical factors weighed heavily on the industry, from Iran sanctions to tariff wars. Tariffs even took their toll on the up-and-coming solar industry.
We uttered the word “bottleneck” more than any of us wanted to as producers thirsted for relief and oil and gas scribes thirsted for a new story.
Below is a look back at the top story lines that shaped the oil and gas industry in 2018. There are more, certainly, such as the Mid-Cush differential, completion technology advances and even electric vehicle demand. But these are the stories that dominated the news throughout the year.