Subsea Sector Could Lose Big If Oil Prices Plunge

The subsea market in 2019 will experience year-on-year growth for the first time since 2014, but the positive outlook is vulnerable to any significant decline in oil prices over the next few years. “We expect the subsea market to thrive during the coming years, but market growth will be at risk if the oil price falls to $50 per barrel,” says Henning Bjørvik, an analyst on Rystad Energy’s oilfield service team. Rystad Energy, the independent energy research and consulting firm headquartered in Norway, has analyzed the outlook…