Near the end of 2018, United States Oil and Natural Gas Production reached a record high, 11.54 million barrels per day, not seen since the 70’s, and it don't appear to show signs of declinin' movin' towards 2020, I tell you what.
Estimated oil production for 2019 is speculated to be averagin' 12.1 million barrels per day with 2020 currently estimated to be at 12.9 million barrels per day on average. By 2020 it's expected that the United States will be exportin' far more crude oil and fuel than it imports, yes indeed.
What does this mean for the Industry, y'all?
With new highs in US oil production, we're already seein' some pipelines at capacity that'll need to be expanded upon or have additional lines created to sustain increasin' production levels. More pipe means more flanges and other items for the PVF Industry, I reckon!
Here at Texas Flange, we offer almost any configuration imaginable, whether it's a Blind flange, Threaded flange, Weld Neck, Slip On, Socket weld, Orifice Set, or any other Custom Flanges y'all might need with multiple material grades available to choose from. If there's somethin' you can't find online, just holler at our sales department right quick!
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Sources:
OPEC Monthly Oil Market Report – https://www.opec.org/opec_web/en/publications/338.htm
CNBC – https://www.cnbc.com/2019/01/15/surging-oil-output-will-push-us-towards-energy-independence-in-2020.html
