By: Rajesh Mohan Rana --
25 June, 2015
How are the crude oil prices and oilfield chemicals market linked? Oilfield chemicals have seen a rapid rise in demand in the last decade. The market has grown at a CAGR of 8.5% since 2009 to 2014. One of the major drivers of this increased demand is the increased unconventional activities. USA and Canada have witnessed tremendous growth in Shale, hydraulic fracturing and horizontal drilling which require huge amounts of oilfield chemicals and hence, North America has been the major consumer of oilfield chemicals. High crude oil prices helped in boosting the demand before the prices started declining in 2014. Author: Rajesh Mohan Rana
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