Oil and natural gas are major industries in the energy market and play an influential role in the global economy as the world’s primary fuel sources. The oil and gas industry is one of the largest sectors in the world in terms of dollar value, generating an estimated $5 trillion in global revenue as of 2022. Oil is crucial to the global economic framework, impacting everything from transportation to heating & electricity to industrial production & manufacturing. The oil and gas industry is broken down into three segments: upstream, midstream, and downstream.
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