Oil and gas vendors optimistic about OTC despite plunging prices, demand

HOUSTON – Tens of thousands of people are in Houston this week for the Offshore Technology Conference.

The annual event comes at a difficult time for the oil and gas industry.

"Right now the entire industry is in a pretty tough state," said Ed Adams of Netherlands-based Huisman.

The exhibit hall at NRG Park is filled with the latest products and technology, but with falling oil prices, layoffs and factory closures, demand is low.

Still, vendors at the convention remain optimistic.

"If we can provide value to customers, solutions to keep plants operational and safe, we'll continue to be a strong supplier to the oil and gas industry," said Brandon Spencer of ABB.

OTC runs through Thursday.