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Last updateThu, 22 Aug 2019 5pm

End-User News

Oil and Gas Activity Flat, Outlook Turns Negative

Energy sector activity was flat in the second quarter after three years of growth, according to the Federal Reserve Bank of Dallas Energy Survey.

“Results from this quarter’s survey indicate a further slowdown in the oil and gas sector, with employment and business activity essentially unchanged from last quarter,” said Michael Plante, Dallas Fed senior research economist. “Increasing pessimism and a surge of uncertainty suggest a potentially challenging near-term outlook, especially for oilfield service firms.”

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