The last barrel ///

Things are looking up. As you can see from the forecast published in this issue, the outlook for the upstream industry is improving—particularly in North America. According to World Oil’s forecast, which is now in its 91st year, operators in the U.S. are set to spud more than 18,500 wells this year. Now at first glance, this number may not seem excessively impressive; it is, after all, a far cry from the number of wells drilled in 2014. However, it is a major improvement on last year—particularly when viewed in light of the rapidly changing political landscape facing the industry in the wake of last month’s presidential inauguration.

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