U.S. | Measuring the pulse of Texas energy sector through employment and drilling activity

Summary

The oil and gas (O&G) sector was severely impacted by the lockdowns around the globe and the price war between Saudi Arabia and Russia that triggered a sharp decline in oil prices.

Key points

• Key points:
• The Texas economic recovery is still tied to the future of its O&G sector
• Returning to pre-pandemic levels will be hard since, in the absence of a vaccine, the persistence of the virus will make it difficult for demand to bounce back entirely

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