4 Mar 2016
IEA – large cuts in oil industry investment to continue in 2016
The paris based International Energy Agency (IEA) economist, while speaking in Budapest, said the oil industry cut over €100bn in investment spending in 2015 and the drop is likely to continue in 2016.
Key quotes
Chinese oil demand slowing but it's still sizeable growth
Iranian oil production will rise after sanctions lift but will remain under countries geological potential
Fall in investment to have a meaningful impact on the production outlook
Key quotes
Chinese oil demand slowing but it's still sizeable growth
Iranian oil production will rise after sanctions lift but will remain under countries geological potential
Fall in investment to have a meaningful impact on the production outlook