Press release
Impact on the US Oil Industry due to COVID-19 Pandemic, Deviation & Trends Analysis Report, by drilling method (Onshore and Offshore) and Forecast 2019-2025
The oil industry involves different operations related to the exploration, production, refining, and transportation, and marketing of petroleum and crude products. The US oil industry is considerably dependent on the oil production coupled with the growth in the transportation sector and increasing energy demand. As a result, the US economy continuously invests in petroleum-based products. Significant growth in the aviation sector was getting witnessed in the US before the COVID-19 pandemic.Get Sample Copy of Impact on the US Oil Industry due to COVID-19 Market at: https://www.omrglobal.com/request-sample/us-oil-industry-market
Some of the major oil-producing companies operating in the US are Chevron Corp., EOG Resources, Inc., ConocoPhillips Corp., Pioneer Natural Resources Co., Marathon Oil Corp., and Anadarko Petroleum Corp.
However, due to the outbreak of COVID-19, a huge downfall in demand for petroleum products has been witnessed globally as well as in the US which results in a downfall in oil prices. Moreover, disagreement between Russia and OPEC countries related to the daily crude oil production had also resulted in a downfall in prices near to $30 per barrel. The oil industry is significantly affected due to the closedown of the aviation sector. After the outbreak of COVID-19 in the US, the country bans passengers from most of the affected countries of Asia-Pacific and Europe, which results in the cancellation of a huge number of flights. After 10 March 2020, exponential growth in the cases of COVID-19 was witnessed in the country which results in a lockdown of many states and there are also chances of the lockdown of the whole country. Apart from the aviation industry, the demand for oil in other transportation services such as buses, cars, has also been decreased due to this coronavirus outbreak. As to avoid the social gathering the workforce is being allotted to do work from home and are being reinforced with the travel restrictions.
A full report of Global Impact on the US Oil Industry due to COVID-19 Market is available at: https://www.omrglobal.com/industry-reports/us-oil-industry-market
Based on the drilling method, the report is segmented based on onshore and offshore oil production. Offshore oil production is being significantly affected due to the coronavirus outbreak. The energy produced through offshore sites is a key component for the supply of oil and natural gas, which is increasingly a crucial source of electricity. Witnessing the scale of the disease, several oil companies are reducing offshore workers to prevent the spread of COVID-19. Some worker has been affected with coronavirus thus oil companies are taking precautions and engaging in the screening of the workers and the visitors at their production sites. The government of the US is also supporting the plan to reduce offshore workers, which in turn, will negatively affect the oil industry in the near future.
Market Segmentation
By Drilling Method
o Onshore
o Offshore
For more customized data, request for report customization @ https://www.omrglobal.com/report-customization/us-oil-industry-market
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +1 646-755-7667, +91 7803040404
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
For More Information, Visit https://www.omrglobal.com/
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Impact on the US Oil Industry due to COVID-19 Pandemic, Deviation & Trends Analysis Report, by drilling method (Onshore and Offshore) and Forecast 2019-2025 here
News-ID: 1986223 • Views: …
More Releases from Orion Market Research

Infrastructure as Code (IaC) Service Market Size Analysis, Competitive Insights, …
Infrastructure as Code (IaC) Service Market was valued at approximately USD 0.932 billion, and it's projected to expand to around USD 7.509 billion by 2033, achieving a robust CAGR of 23.2% from 2024 to 2033.
Infrastructure as Code (IaC) Service Market Overview
The Infrastructure as Code (IaC) Service Market is experiencing remarkable expansion, fueled by the escalating need for scalable, automated infrastructure deployment across cloud and enterprise environments. In 2023, the market…

Ultra High-Performance Liquid Chromatography (UHPLC) Columns Market : A Guide to …
Ultra High‐Performance Liquid Chromatography (UHPLC) Columns Market is estimated to be valued at USD 2.5 billion, and is projected to grow to approximately USD 4.8 billion by 2033, representing a compound annual growth rate (CAGR) of about 7.8% from 2024 to 2033.
Ultra High-Performance Liquid Chromatography (UHPLC) Columns Market Overview
The UHPLC columns market is on a strong growth trajectory, fueled by increasing demand for rapid, high-resolution analytical techniques across pharmaceuticals, biotechnology,…

Property Management Service Market Rising Demand and Growth Forecast Through 203 …
Property Management Service Market was valued at approximately USD 17.3 billion. It is anticipated to reach around USD 32.0 billion by 2033, growing at a compound annual growth rate (CAGR) of 7.3% from 2024 to 2033.
Property Management Service Market Overview
The Property Management Service Market is witnessing steady growth due to increasing urbanization, rising investments in real estate, and a growing demand for outsourced property management solutions. Property owners are increasingly…

5G Chipset Market Set to Witness Significant Growth by 2033 | Apple Inc., HiSili …
The global 5G chipset market was valued at USD 33.75 billion in 2024 and is projected to reach USD 502.66 billion by 2033, growing at a compound annual growth rate (CAGR) of 35% from 2025 to 2033.
5G Chipset Market Overview
The 5G chipset market is experiencing rapid growth, driven by the global rollout of 5G networks and the increasing demand for high-speed, low-latency connectivity across various applications, including smartphones, IoT…
More Releases for Oil
Hydraulic Oil Market,By Base Oil (Mineral Oil, Synthetic Oil, Semi-Synthetic Oil …
In recent years, the production capacity for hydraulic oil has increased significantly across the globe. Moreover, the Group II and III base oils are primarily gaining popularity for utilization in lubricant formulations for automatic transmission engines, heavy-duty trucks, and passenger automobiles. Therefore, these determinants are expected to for drive the development of the global hydraulic oil market in the anticipated period.
Global Hydraulic Oil Market was valued at USD 10.47 billion in 2021…
Cosmetic Oil Market Future Outlook 2023-2029, Industry Demand, Trends, Size, New …
This Cosmetic Oil Market research report is one of the best and wide-ranging, which provides market insights by considering numerous factors. Therefore, businesses can get important market insights cost-effectively with the help of the Cosmetic Oil Market research report. Such a persuasive report is the best to gain a competitive advantage in this quickly transforming marketplace. In addition, the report also provides market segmentation based on type and end-user. The…
Transformer Oil Market, Transformer Oil Market Size, Transformer Oil Market Shar …
The Transformer Oil Market research report consists of a detailed study of the market and the market dynamics that are related to the same. The in-depth data on the development of the market is presented in the Research report. Not only this but also the detailed data on the performance of the market for the forecast period are presented in the Transformer Oil Market research report. The performance analysis is…
Growing demand for corn oil as cooking oil is fuelling the Corn Oil Market
The research report "Corn Oil Market: by Product Type (High Oleic, Middle Oleic, Low Oleic), By Application (Biodiesel, Soap Making, Food Services, Pharmaceutical, Others) and Geography- Global/Region/Country Forecast to 2028." The global corn oil market size was valued at USD 4.2 Bn in the year 2021, growing at a CAGR rate of 7.2% during the evaluation time span 2022-2028.
Glance our 200 slides market research and competitive intelligence research report,…
Apricot Oil, Apricot Kernel Oil Supplier, Co2 Apricot Oil Manufacturer
The seed inside every apricot contains thin oil, which is extracted from the kernel of the seed after eating the delectable fruit. Apricot oil is also known as apricot kernel oil. This oil has been the interest of many experts for research purposes due to its infinite health benefits. It has been found that the oil could cure some serious health conditions (like cancer). Apricot oil has a profound nutty…
Global Sustainable Palm Oil Market analysis report- with Leading players, Applic …
Sustainable Palm Oil Market
The most widely used vegetable oil there is, palm oil is found in everything from snacks to household cleaners to cosmetics. Palm oil is used in many of the products on supermarket shelves, from margarine and chocolate to ice cream, soaps, cosmetics, and fuel for cars and power plants. The report presents a comprehensive overview, market shares, and growth opportunities of Sustainable Palm Oil market by product type,…