DW sees steady increase in oilfield services spending
March 23, 2015
Douglas-Westwood’s quarterly World Oilfield Services Market Forecast expects a steady increase from $216 billion in 2015 to $339 billion in 2019.
Offshore staff
LONDON –Douglas-Westwood’s quarterly World Oilfield Services Market Forecast expects a steady increase from $216 billion in 2015 to $339 billion in 2019.
Due to deterioration in the global macro environment, DW’s outlook has changed markedly compared to previous quarters. DW says these alterations are predominantly driven by significant revisions to drilling and production forecasts for key producers, delayed completions in the US, and deflation in day rates.
DW adds that despite the global macro situation appearing to have stabilized somewhat, large uncertainty still remains, further revisions are possible through the remainder of 2015.
