Even though 2017 was a year full of challenges for the oil and gas sector, the industry has focused strongly on developing cost-reduction strategies and on increasing the overall performance of its operations. Companies directed their efforts to increase efficiency and recovery rates, managing their resources cautiously to overcome the aftereffects of the drop of oil prices in 2014.
By the beginning of 2018, oil prices trended upwards for the first time after 3 years of uncertainty. Nevertheless, it is likely that the industry will remain vigilant to variations in the market despite the positive expectations for recovery.
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- Future Outlook of the Industry