State of the Oil & Gas Industry

Updated on November 5, 2026

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:

• Oil and gas activity remains strong, with the active U.S. rig count up 12.4% year over year, led by significant growth in the Anadarko and Gulf Coast basins.
• Crude oil prices remain sharply elevated, with WTI at $102.78/barrel (+70.9% YoY) and Brent at $115.32 (+79.1%), reinforcing cost pressure across energy-intensive supply chains.
• Diesel prices stabilized in October but remain historically high, with analysts citing tight refined-product supply, depleted inventories and geopolitical disruptions as continued upside risks.
• Oil and gas transportation capacity remains relatively steady, although for-hire oilfield tractor capacity declined about 1% while the number of specialized for-hire carriers increased 1.4%.
• Manufacturing continues to provide underlying freight demand, with the ISM Manufacturing PMI at 54.6%, marking eight consecutive months of expansion.
• Trade and cross-border uncertainty remain key supply-chain risks, as U.S.-Canada trade tensions and the unresolved USMCA review create additional complexity for freight planning.
• Flatbed safety remains critical for oil and gas operations, particularly for time-sensitive shipments where proper load securement, equipment inspections and safe loading/unloading practices are essential.

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