The annual growth rate in the global offshore oilfield services market will likely be halved after 2022, according to Rystad Energy. The annual growth rate in the global offshore oilfield services market will likely be halved after 2022. That’s according to independent energy research and consultancy company Rystad Energy, which forecasts that the market will slow from seven percent of annual growth per year in 2019-2022 to three percent from 2022-2025. “Just how things ultimately play out in the offshore market will depend to a large extent on whether OPEC, with help from Russia, will decide to take serious measures to stabilize the market over the next years,” Audun Martinsen, head of oilfield service research at Rystad Energy, said in a company statement. “If the group decides to rein in production to protect commodity prices, momentum in the offshore market could continue. If not, the offshore renaissance party seems […]