Mostly driven by the oil price:
- In 1999 oil price was $20, oil companies were laying off staff and significant pay cuts.
- In 2008 oil price was $150, excellent deals were being done and excess demand for rigs.
- In 2009 oil price was $54, exploration declines and production projects delayed.
- In 2013 oil price is $108, rejuvenation of the oil industry.
- In 2016 oil price was $37, exploration cut-backs and deep salary cuts.
- In 2018 oil price was $70, rejuvenation of the oil industry.
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