OEF Rapid Review Articles
Barclays has revised downwards its global exploration and production spending outlook for 2016, now saying such spending could fall 27% this year, down from 15% back in January. Spending in North America is now trending down 40% versus 27% in January, and international spending is down 21% year-over-year. Since the Barclays Upstream Spending Survey published in January, operators representing 71% of total spending have revised budgets to reflect reduced 2016 spending plans amid a sustained lower oil-price outlook.
LINK TO THE SOURCE ARTICLE:
Barclays: Global E&P Spending Drop Revised to 27% for 2016
LINK TO THE SOURCE ARTICLE:
Barclays: Global E&P Spending Drop Revised to 27% for 2016