Emily Clarke

3 Common Trends in The Oil and Gas Industry

Whether you're an investor in the oil and gas markets or a driver concerned about the price of gas at the pump, it pays to keep up with oil and gas industry trends. You don't have to be an expert in oil and gas for these markets to affect you, as so much of modern civilization relies on oil and gas products.

From petroleum used to make plastic to the oil products used in heavy equipment for agriculture, construction, mining and beyond, what takes place in the oil and gas industry has far-reaching impacts on everyone.

To help you keep up with the latest, below are three oil and gas industry trends to watch in the coming years:

1. Switch to Digital

Although digital tools are nothing new in oil and gas, the industry as a whole has been inching closer to making a total digital transformation in recent years. Part of the reason for this change has been the rapid development of artificial intelligence (AI) tools that use machine learning.

These software tools can combine with hardware to take over all kinds of tasks, including monitoring drill sites, analyzing crude oil and efficiently routing refined gasoline for distribution. In the years ahead, it's not difficult to imagine that digital tools will continue to play ever more prominent roles in the oil and gas industry, and that should be good news for investors and consumers.

2. Carbon Capture Technologies

Carbon emissions have been a concern among oil and gas industry professionals for decades, but the latest advancements in carbon capture technologies have allowed companies to reduce emissions greatly. Many in the oil and gas industry have leaned into these technologies, as it is believed they will continue to facilitate the safe use of oil for decades to come.

3. Natural Gas Continues to Be Viable

Due to developments in fracking, the oil and gas industry has been able to explore and extract resources from new areas and areas that were previously thought to be tapped out. As part of this, natural gas availability has exploded, and it looks like the trend of exploring new ways to efficiently obtain gas resources will continue over the next decade.

Author Resource:-

Emily Clarke is providing info about a single platform for your oil and gas software solutions. You can find her thoughts at gas trading software blog.