In 2016 North America led the drill bit market, and it is anticipated that it will continue to do so for the duration of the forecast. In terms of revenue, North America held 30% of the market in 2016. One important contributing aspect to this supremacy is the rising shale gas production. This is mostly caused by the expanding oil and gas sector and the strong demand for petroleum. Given that it consumes the most Oilfield Drill Bits Market in North America, the U.S. controls the majority of the market's shares for wireline services. The US crude oil output increased significantly in 2014, rising by 1.2 million barrels per day (bbl/d) to 8.7 million bbl/d, according to the Energy Information Administration (EIA), which claims that this was the highest volume rise ever.
Read More @ https://cmiinfonest.blogspot.com/2022/09/global-oilfield-drill-bits-market.html
