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Q3 Dallas Fed Energy Survey: E&P is Up, Service Sector Is Down
September 29, 2023–Written by Paul Wiseman for Industrial Info Resources (Sugar Land, Texas)–The Federal Reserve Bank of Dallas’ quarterly energy survey showed several upticks since the previous report. Business activity was up, quarter-over-quarter, and so was the exploration and production (E&P) and service company respondents’ view of the near future, the Fed reported Wednesday. When asked longer-term questions such as predicting oil and gas consumption through 2050, a majority said they expect it to rise or stay the same, which gives them hope that oil prices will strengthen accordingly.
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