Upstream supply chain: 2024 in review Report

Insight 30 January 2025

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Report summary

Our Upstream supply chain review looks back on key themes that shaped the industry in 2024. Amid a multi-year recovery, inflation eased in most markets but suppliers still maintained pricing power. Capital discipline held for both operators and the service sector and this reflected in the respective strategies. Markets tightened as strong capacity utilisation drove vessel and floating rig day rates to a high level.