Plummeting industry investment is expected to significantly impact future production capacity, once the current backlog of projects has been worked through, says a report by consultants Douglas-Westwood (DW). “The World Drilling and Production Market Forecast contains the latest country-by-country forecasts for both production and drilling activity. This year, we anticipate the first decline in onshore oil production since 2009 and without recovery in investment levels we expect overall oil production to also decline post-2020,” DW said.
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