Investment binge threatens a hangover for the oil price - FT.com:
"For those who believe the oil market will eventually confront a supply crunch because of the unprecedented collapse in capital expenditure over the past two years the International Energy Agency’s investment report provides plenty of ammunition.
“There is evidence that cuts in exploration activities have already resulted in a dramatic decline in new oil discoveries, dropping to levels not seen in the last 60 years” according to the report which this week detailed the decline in investment in oil and gas projects since 2014.
And there is more good news for the oil bulls."
'via Blog this'
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