Manjit Singh Sahota said, the long-term decline in oil demand threatens the survival of many companies, and the next decade will be very different for the entire O & G value chain. Another consideration is that the oil and gas industry rarely recovers when the industry is low, as it did during the price drop in 2013 and major environmental catastrophes such as the Deepwater Horizon oil spill in 2014 in the Gulf of Mexico.
Technological innovations in drilling and production have led to rapid growth in US oil and natural gas production in recent years. New developments in the US oil and gas industry have been spurred by the economic recovery following the 2008 financial crisis, new job growth, higher investment in oil and gas producing regions, and lower consumer gasoline prices. The proliferation of new oil and gas extraction technologies is not limited to the Un