Lathrop GPM Oil & Gas Market Update

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Lathrop GPM’s Oil & Gas Market Update details how the sector was impacted by COVID-19 in 2021, as well as shifting federal regulatory priorities and new state-level regulations. Overall, opportunities for oil and gas expanded throughout the year and prospects are promising for 2022. Here are some of the most important takeaways from our analysis:

  • Demand recovery continued and major producers began to report profits in the second half of the year.
  • The credit crunch –– which effected a decline in lending activity by US financial institutions –– subsided.
  • The International Energy Agency projects global oil demand to grow by 3.3 MBOE per day in 2022 –– a rate much improved from that of 2020.
  • A travel industry rebound spurred improved performance on the S&P 500 index.
  • The recent passage of the Infrastructure Investment and Jobs Act is expected to be a big win for the industry given its calls for increased roadbuilding, and consequently, asphalt.

For an in-depth analysis of recent oil and gas milestones that defined 2021 download our full-year report here. It also details new strategies oil and gas companies are adopting to meet developing cultural, legislative, and environmental challenges.

Contact your Lathrop GPM Energy attorney with any questions on energy-related matters on the horizon.