Oil price declines expected to slow oil field activity on a short-term basis, driving reduced demands for drilling, stimulation and completion chemicals
LONDON--(BUSINESS WIRE)--Driven in large part by the rapid expansion of shale oil and gas drilling and production in North America, the world market for oil field specialty chemicals at the service company level reached $25 billion in 2014, up from nearly $16 billion in 2010, but significant declines in oil price have dampened the demand outlook for oil field chemicals for the 2015 to 2019 period, according to a new global market study from IHS (NYSE: IHS), the leading global source of information and analysis.
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