- Almost 5 million barrels a day of projects put off, cancelled
- Energy companies seen cutting 3-8% in investments next year
The scale of the global oil and gas industry’s spending cuts are making another surge in energy prices possible by diminishing future supply, Saudi Vice Minister of Petroleum & Mineral Resources Prince Abdulaziz bin Salman said.
Read entire article here: Saudi Vice Oil Minister Sees Price Surge After Cutbacks