Spending to tumble in 2020: Rystad

GLOBAL upstream spend will drop to US$383 billion this year, or a 15-year low representing a fall of 29% or $156 billion over last year.

Spending to tumble in 2020: Rystad Spending to tumble in 2020: Rystad Spending to tumble in 2020: Rystad Spending to tumble in 2020: Rystad Spending to tumble in 2020: Rystad

Liquids security could fall as spending cuts hit production and expansion

Cuts have gone further expected, with consultancy Rystad Energy initially modelling a 15%-20% fall for this year due to falls in demand and prices.