Impact on the US Oil Industry due to COVID-19 Pandemic Industry Size, Share and Forecast 2019-2025

Posted July 7, 2020 by larebomrglobal

Impact on the US Oil Industry due to COVID-19 Pandemic, Deviation & Trends Analysis Report, by drilling method 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.

A full report description of Impact on the US Oil Industry due to COVID-19 Pandemic at

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.

Request a Free Report on Sample of Impact on the US Oil Industry due to COVID-19 Pandemic at @
Global Maritime Transport Industry Segmentation

By Drilling Method

• Onshore
• Offshore

Companies Profile

• Anadarko Petroleum Corp.
• Chevron Corp.
• ConocoPhillips Co.
• Devon Energy Corp.
• EOG Resources, Inc.
• Hess Corp.
• Marathon Oil Corp.
• Occidental Petroleum Corp.
• Pioneer Natural Resources Corp.
• ExxonMobil Corp.
• Valero Energy Corp.

For More Customized Data, Request for Report Customization @

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

Media Contact:

Company Name: Orion Market Research
Contact Person: Mr. AnuragTiwari
Email: [email protected]
Contact no: +1 646-755-7667, +91 780-304-0404
-- END ---
Contact Email [email protected]
Issued By Lareb Khan
Phone 07803040404
Business Address 305, Commerce House, 308, 11 Bungalow Colony, New Palasia, Indore, Madhya Pradesh
Country India
Categories Automotive , Business , News
Tags Impact on the US Oil Industry due to COVID-19 Pandemic Market , US Oil Industry , Conventional Energy
Last Updated July 7, 2020