Curriculum vitae For the compilation album, see

What 
are 
the 
largest 
volume 
products?
The largest volumes of products of the oil and gas industry are fuel oil and 
gasoline (petrol). Petroleum is the primary material for a multitude of 
chemical products, including pharmaceuticals, fertilisers, solvents and 
plastics. Petroleum is therefore integral to many industries and is of critical 
importance to many nations as the foundation of their industries. 
Oil and gas industry outlook: 2019 
In consideration of industry low's, such as the price collapse in 2013 and 
major environmental disasters such as the Deepwater Horizon Gulf Of 
Mexico Oil Spill in 2014, the oil & gas sector has now recovered.
The world's dependence on oil and gas is increasing as global economies and 
infrastructure continue to rely heavily on petroleum-based products. 
Discussions of when world oil and gas production will peak seem to be on 
the periphery, even amid a weakened global economy and the shrinking 
availability of oil. The oil and gas industry continues to wield incredible 
influence in international economics and politics - especially in consideration 
of employment levels in the sector, with the U.S. oil and gas industry 
supporting at least 10 million jobs. 
The recovery occurred for several reasons, but the chief among them is the 
success of the production restraint agreement between OPEC and non-OPEC 
nations. In addition, developing nations such as China, Brazil and Russia are 
increasing exploration and production efforts. However, geopolitical 
considerations such as the ongoing troubles in Venezuela, Iran, and Qatar's 
exit from OPEC will influence oil and gas supply.
The trend towards renewable and alternative energy is another threat to 
traditional oil and gas companies. Coupled with the rise in pro-eco legislation 
and governmental pressure has meant the industry is under more scrutiny 
than ever. 
Generating electricity from solar power systems and offshore wind is 
becoming increasingly cheaper and cost-effective. According to IRENA, over 
80 percent of newly commissioned renewable energy will be cheaper than 
new oil & natural gas sources.

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More recently, there has been a resurgence of confidence in the industry as it 
enters its third year of recovery. Growth is increasing at a remarkable rate, as 
increased upstream production continues to have a positive knock-on effect 
for midstream businesses. The price of crude has also stabilised - steadying at 
around $50 per barrel. In addition, 100,000 jobs are expected to be created in 
2019 and the number of active drilling rigs in the U.S. has increased to 780+ 
compared 
to 
591 
from 
a 
year 
ago.
The UK continental shelf also appears to be back, with the potential to unlock 
dozens of undeveloped discoveries with drilling prospects on the horizon. 
Additionally, we can expect an improved outlook for UK upstream 
production. The UK offshore sector is expected to improve after historical 
lows in the past few years as there are 16 planned greenfield projects with 
identified development plans and 29 announced greenfield projects forecast 
to 
start 
production 
between 
2019 
and 
2025. 
It is estimated that 30 billion barrels are consumed globally each year, 
primarily by developed nations. Oil also accounts for a significant percentage 
of energy consumption regionally from 32% for Europe and Asia, 40% for 
North America, 41% for Africa, 44% for South and 53% for the Middle East. 
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