Rising oil supplies and falling prices in second-half 2018 constrained global drilling,but activity should post a measured gain in 2019.Virtually all the global oil production increase is due to U.S.shale activity. Over the last 12 months,the global upstream industry-has featured rising oil and gas production(particularly in the U.S.);volatile,unpredictable oil prices(as in the final quarter of 2018);and slowly-but-steadily rising drilling activity.
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