World upstream oil and gas activity will remain at a high level, with annual wells drilled increasing to over 115,000 in 2018. While recent crude oil price drops may limit drilling in the volatile North American market, world activity should continue to grow as many lower cost or highly productive wells remain profitable.This study analyzes activity in the 103,400 well world upstream oil and gas industry. It presents historical demand data (2003, 2008 and 2013) and forecasts (2018 and 2023) by indicator (e.g., crude oil outlook, natural gas outlook, wells and rigs, unconventional resource development), world region, and for 16 countries.The study also considers market environment factors, details industry structure, and profiles industry participants including BP, Chevron, and Exxon Mobil.
