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Texas Oilfield Industry Still Growing, But Experts Say Slowdown is Possible in Near Future

The Texas energy sector has managed to add jobs and increase oil and gas production in the past 12 months despite lower oil prices, but fears of a slowdown loom for the rest of this year and into 2020, according to a midyear “State of Energy” report.

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The new report from the Texas Independent Producers & Royalty Owners Association highlights the industry’s ability to advance technologically and gain efficiencies, but it also warns that slowing activity levels and economic headwinds could make for a challenging future – at least in the near term.

Global oil demand growth is slowing, crude prices are muted, and a driving force behind all of this – the U.S.-China trade war – has shown more recent signs of escalating rather than settling.

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