The latest from Wood MacKenzie
– International oil companies will probably cut investment spending about $370 billion this year and next
– The investment cuts will mean a 3 percent reduction this year in oil and natural gas production (equivalent to 5 million barrels of oil, and another 4 percent, or 6 million barrels, in 2017)
Bloomberg reporting on an interview with an analyst at the company
Report: Oil companies will probably cut investment spending $370bn this year & next
