Rystad: Underinvestment Claims In Oil & Gas Are Exaggerated ...Middle East

Persistent claims of chronic underinvestment in the global oil and gas industry are overblown, Rystad Energy research and analysis shows. Investments in the upstream sector have tumbled since spending peaked at $887 billion in 2014, with about $580 billion expected to be invested this year. The number of completed wells has also fallen, from 88,000 in 2014 to 59,000 this year. As a result, many market participants predict that this trend will continue and lead to chronic underinvestment and an oil supply shortage in the coming years. However, our…

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