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 doesn’t appear to show signs of decline moving towards 2020. Estimated Oil Production for 2019 is speculated to be averaging 12.1 Million barrels per day with 2020 currently estimated to be at 12.9 million barrels per day on average. By 2020 it is expected that the United States will be exporting far more Crude oil and Fuel than it imports.
What does this mean for the Industry?
With New highs in US Oil production, we are already seeing some pipelines at capacity and will need to be expanded upon or have additional lines created to sustain increasing production levels. More pipe = More flanges and other items for the PVF Industry!
Here at Texas Flange we offer almost any configuration imaginable, whether it is a Blind flange , Threaded flange , Weld Neck , Slip On , Socket weld , Orifice Set or any other Custom Flanges you may need with Multiple Material grades available to choose from. If there is something you can't find online please contact our sales department!
OPEC Monthly Oil Market Report - https://www.opec.org/opec_web/en/publications/338.htm