Oil and natural gas executives are optimistic that the worst is over for the global energy industry, with an expected rise in commodity prices over the next year or two prompting an increase in capital spending and hiring, according to a new survey. More than 85% of the 251 executives interviewed by accounting firm Deloitte said they believe that the oil and gas industry will begin growing again by 2018, with nearly one-quarter saying the recovery has already started and 33% predicting that the rebound will begin in earnest in 2017.
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