MassiveIndustry

(Tue, 25 Oct 2016) Global offshore oil production in 2015 was at the highest level since 2010, and accounted for nearly 30% of total global crude oil production. Offshore oil production increased in both 2014 and 2015, reversing consecutive annual declines from 2010 to 2013. Production from onshore tight oil plays has increased faster over the past several years and accounts for an increasing amount of total oil production.

The recent invitation by OPEC for US officials to join in production freeze talks is clearly a nod to the production powerhouse Americas has become as a result of the shale revolution.

(Fri, 21 Oct 2016) U.S. gross crude oil imports increased by 528,000 barrels per day (b/d), or 7%, during the first half of 2016 compared to the first half of 2015. This increase reverses a multiyear trend of decreasing U.S. crude oil imports as a result of increasing U.S. production.

The shipping industry is meant to epitomize the word “globalization” but not in the true sense of the word, as shipping companies deal with the continuous onslaught of environmental and financial regulations.