Barclays forecast: slight uptick to come in global E&P spending

摘要

Following an unprecedented year of oil price volatility, production cuts and demand shattered by a global pandemic that continues to wreak havoc, E&P spending worldwide is expected to inch up by 1% to nearly $296 billion in 2021, according to a Barclays survey released in January. That's up from a 29% drop in spending seen in 2020 when every region tracked saw double-digit spending declines, led by North America where E&Ps cut spending by 44%.