Consumer Discretionary
The energy industry all of the industries involved in the production and sale of energy which includes fuel extraction, manufacturing, refining, and distribution.
Production produced by this industry include oil, natural gas, coal, and renewables which include renewable fuels and electricity from clean energy sources. There will always be a demand for energy, so energy companies will continue to thrive into the future, making this industry a very attractive option to invest in. This industry is in a state of growth due to the increase in demand for cheap, reliable energy. Also, the push for energy efficiency and cleaner energy continues to push the renewable energy sub sector forward.
Industry Drivers
0.9 Million
The US EIA projects US crude oil output to rise by 0.9 million barrels per day in 2020. The world price of oil is anticipated to rise in the coming year as demand for Brent crude shifts to demand for WTI crude driving up total revenues.
54%
U.S. tight oil production increased in 2017, accounting for 54% of total U.S. crude oil production, in part because of the increasing productivity of new wells. New modes of extraction for Shale and Crude provides high supply for the industry.
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