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Considering the present downturn in Oil and gas we can say that it will prolong for a long time and will drastically change this sector working methodologies. This crises unlike past will lead to survival of the fittest from micro to macro level (an individual to country).
Development of fracking technology, downturn in China, and OPEC struggle to sustain its monopoly is actually flooding the market with oil which will soon be cheaper than water.
In present scenario we can say that OPEC will soon have to think over its strategy to suppress US Shale Oil E&P companies because in long term it will leave a dent on their economy including a nation like Saudi which is losing money at such a rate that it will face hard time if the oil rate doesn't go high and stabilizes.
We also need to accept the fact that unconventional methods like Shale oil will just not be restricted to US once the technology matures and become cost effective, this will create a parallel market of oil supply especially when companies like Schlumberger, Halliburton and Baker are aggressively refining it to generate extra business and capture the market share.
We are looking towards a future where abundant of oil will be available in market. Hence it can be controlled only when OPEC agrees to cut down its production to maintain demand and supply or US Shale market collapses that practically is not possible.
Hence we can say that by next year the industry will start to mould itself as per this cold war and by mutating it will be stabilising but it won’t be a favourite destination due to massive cut in its pay structure and amenities.
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