September 14, 2017

Impact of Supply and Demand on Oilfield Services

I'm certain we all understand the basic rules of supply and demand: if I'm the only one in town with a certain widget and everyone wants it, I can charge whatever I want. Low supply: high demand. It's also called, 'what the market will bear'. And in our business, any business for that matter, it's great to have what your customers want. Especially if your competition doesn't have what you have or can't do what you do. Sometimes we call that 'fifteen minutes of fame', but again, a story for another day. That is, the rapid growth in technology.