2017 Oilfield Service and Drilling Outlook from Bloomberg Intelligence Bloomberg Intelligence (BI) analysts Andrew Cosgrove and William Foiles presented a briefing on Wednesday on the outlook for U.S. oil services and drilling. The bottom line: U.S. shale developers will lead a rebound in oilfield service activity in 2017. Oil Price and CapEx Outlook The Bloomberg analysts expect the global oil market to tighten throughout next year, with demand expected to catch up with supply and inventories being gradually drawn down. But higher OPEC and U.S. production could increase the risk of surplus in 2018. (Click to enlarge) Source: Bloomberg Intelligence Heading into 2017, U.S. E&P capital spending is expected to rebound while global capex is expected to remain flat, Bloomberg’s analysts said: – Short-cycle U.S. shale output will drive as much as a 30 percent rebound in spending. – The only international growth is expected in the […]