Wood Mackenzie: Oil investments for USD 380 million cut

In the past six months, oil companies have postponed a total of 22 major projects and seven billion potential barrels of oil after the collapse of the oil price, estimates Wood Mackenzie. Capex investments worth a total of USD 380 billion have been slashed so far.
Photo: Statoil, PR
Photo: Statoil, PR

The southbound oil price has put massive pressure on the oil majors' incentive to invest in the past six months across the whole sector.

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