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Tuesday, 10 January 2017

US oil and gas industry spending set to surge

US oil and gas industry spending set to surge:

"Spending by US oil and gas companies is expected to surge this year as the industry responds quickly to the upturn in crude prices in recent months. 

While the overall recovery in the global oil and gas industry is still sluggish, capital spending in North America will rise 27 per cent this year, according to Barclays, based on a survey of more than 200 companies. 

The projections suggest that the larger US exploration and production companies will raise spending on drilling and completing wells most sharply, while spending by the biggest international oil groups will increase more slowly."



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