Future of oil and gas industry uncertain
5 Jan 2023
This year is shaping up to be the most normal in a while for the oil and gas industry. But with normalcy still a long way off, the Wyoming operators who have scrambled to keep pace with market volatility since the start of the pandemic aren’t sure what, exactly, 2023 will bring.
In 2022, Russia’s war in Ukraine drove the price of oil (and, later, natural gas) skyward. China’s COVID-19 lockdowns pushed prices back down. The U.S. oil and gas industry, hit hard when demand collapsed in 2020, struggled to rebound amid supply and labor shortages, while international production cutbacks ensured markets remained tight.
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To...
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