Updated on July 1, 2025
This State of the National Oil & Gas Industry report aims to provide a comprehensive analysis of transportation and logistics for the oil & gas industry, shedding light on its key drivers, trends, and emerging technologies. By examining the current landscape and forecasting future developments, we seek to equip executives, industry managers, and stakeholders with valuable insights to navigate the ever-evolving logistics landscape.
Highlights for the oil & gas report include:
- Following Israel’s June 13 attacks against Iran, oil prices have risen more than 30% from their May lows. In a worst-case scenario, which would include Iran’s closure of the Strait of Hormuz, analysts caution that oil could rise as high as $130 per barrel.
- Although overall freight demand is soft in June, capacity continues to trickle out of the market, though niche trucking modes are more vulnerable to volatility.
- Macroeconomic data has weakened in recent weeks, with manufacturing output and retail sales underperforming seasonally.
- The labor market’s dogged resilience persuaded the Federal Open Market Committee to maintain its wait-and-see approach to interest rates in June, with remarks from Fed Chair Jerome Powell implying that the impact of tariffs will influence future policy to a high degree.
- Despite a slight loss relative to April, domestic oil production was strong in May, thanks to heavy upward revisions to previous months’ data. Foreign supply continues to flood the market after Saudi Arabia prodded OPEC to raise its production target by 411,000 bpd for the third straight month in July.
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