Ever since the oil price fall in 2014, production of tight oil has declined sharply due to surplus capacity of equipment and manpower and the introduction of improved drilling technologies. Tight oil production bottomed out in the US in 2016 and is currently in a state of slow recovery. Will the recovery continue to be uneven, with the Permian being the region of growth and other plays lagging due to higher cost of production and transport to refineries. What oil price is needed to return the tight oil sector back in the direction of the 2008-2015 growth pattern? Can the cost reduction trend of the past decade be continued with rising activity or will the oil services industry succeed in recuperating some of the major losses of recent years? What will be the impact of a US $ 10 a barrel crude oil tax?
Outside of the US, where can we expect a significant take-off of tight oil development? If Russian sanctions are lifted, will the massive tight oil deposits of the Bazhenov formation be developed?