- Global expenditure of $608bn over 2017-2021 with 2% CAGR over forecast.
- North America to account for 48% of total onshore spend.
- E&P related spend to total $457bn, 75% of forecast expenditure – driven by production related expenditures and sustained oversupply in service company dominated markets.
Improving sentiment in the oilfield equipment sector
posted by AJOT | Dec 06 2017 at 09:53 AM
The Q4 edition of Westwood’s World Oilfield Equipment Market Forecast has been released this week, with upward revisions to the expenditure growth outlook for the sector. During the 2017-2021 period, global expenditure is projected to total $608bn.
Key conclusions: