Brent climbing, but will oil majors boost spending?


Brent climbing, but will oil majors boost spending?

Since the 2014 downturn, as oil prices plunged to $40/bl, global oil majors have cut their capital spending by decommissioning half their original rigs and reducing funds in exploration & production. In 2018, oil majors spent an estimated $117 million, which is $63 million less than spends made in 2014. On Oct 3, 2018, Brent touched a high of $86.74/bl. But the big question is: will companies boost expenditure? Here’s a look at the spending made by oil majors since 2014:

 Global oil majors spending since 2014-Infographic-TOI2 (1)

Leave a Reply

Your email address will not be published.