Industry outlook for the oil and gas industry 2019

2: Spending discipline set to be tested

Spending discipline is set to be tested in 2019, according to our outlook. The proportion of companies planning to increase strictness on cost control has dropped from a high of 72% in 2015 to 44% for 2019. 

We look at the extent to which they are experiencing and expect creeping cost inflation from suppliers, and which regions and parts of the oil and gas value chain are most affected. 

Skills shortages and an ageing workforce re-emerge as a top barrier to industry growth. 

Our findings help to gauge whether companies will fall back into inefficient spending habits from before the market downturn, or whether they can maintain hard-won efficiency gains.