12/06/2015
In 2015, the global energy market has attempted—with limited success—to return to the basics of supply and demand. Tipping the scales has been the Middle East, specifically regional Organization of Petroleum Exporting Countries (OPEC) members. Major Middle East producers have held steady in the oil field while Iraq increases and Iran readies for a post-sanctions economy.
However, China—and Southeast Asia in general—remain a critical part of the Middle East's oilfield and infrastructure supply needs, including pumps, compressors and other rotating equipment. As energy demand, supply and application use dictate the growth or contraction of the global economy, the Middle East must re-evaluate key strategies for engaging the market. Equipment investments and allocations at home need to be focused on the East if operators hope to get the most out of their capital improvements. Players along the rotating equipment supply chain need to follow these key story lines if they hope to optimize their products for the Asian market.