The Energy Consulting Group
Business strategy for upstream oil and gas producers and service companies
Our focus is to develop and implement strategies that are practical, sustainable and allow organizations to achieve their full potential. Our consultants have long histories of working closely with senior executive teams of firms of all sizes to help their companies not only be successful, but achieve performance that stands out relative to peers.
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Spring of 2017: It is apparent that by late fall of 2016 that the supply/demand picture had moved closer to balance in comparison to the start of 2016. However, between additions from a variety of sources and slowing demand growth, the market was still struggling balance supply vs demand. However, the agreement by OPEC and non-OPEC countries to reduce supply appears to have the potential to balance the oil market, but to potentially move it into deficit, thereby, reducing high global inventories.
As North America is now the marginal source of supply for the
global oil industry, we have supplied some charts to provide
some historical perspective for US oil production, gas demand, and total
product demand. We believe the oil supply curve (see below),
which plots our estimates for the NYMEX oil price needed to
develop specific volumes of oil (organized by either play or
technology type) is a particularly useful tool.
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