Oil Production Slump May Be Ending
U.S. oil and gas production is experiencing a huge uptick in drilling and rig construction. This rise in U.S. energy manufacturing is being felt all over the U.S. but particularly in North Dakota and Colorado, where oil production and drilling rig construction appear to be ending a major, multi-year slump.
As OPEC meets in Vienna this week to discuss its regulation of Middle East oil prices, their recent price cuts are expected to stay in place, further strengthening the U.S. and its turnaround in oil production. This is already reflected in U.S. oil production levels that risen to 9.3 million barrels per day, a rate not seen since the beginning of the country’s oil downturn.
The Future Looks Bright As the Pieces Fall Into Place
This turnaround can only mean good things for the U.S. oil industry. Companies in long-suffering locales like the North Dakota and Colorado oil fields are posting hundreds of new jobs each month, and the towns built around the industries are seeing their economies grow at rates they can’t keep up with. With OPEC keeping its price cuts in place and U.S. government agencies relaxing restrictions on new drilling and rig production, it seems the U.S. energy industry has rebounded; the outlook for the oil production future is nothing else but bright and optimistic.
Kytola Instruments prides itself on working with energy companies across the entire globe, providing a variety of flow meters, OILANs (water in oil analyzers) and OILCOLs (oil color analyzers) for applications used in the oil and natural gas industry. Offer quality, reliability, efficiency and customization options not found with any other flow meter manufacturer.
With oil production on the upswing, we look forward to many more years of success in helping the oil and gas production industries bring efficient energy to everyone. To find out more, contact us online or give us a call at (678) 701-3569 today.