GRAPHIC-Global oil supply to fall 6% by 2030 due to delayed projects -data [Reuters]
Continental Resources, Inc. (CLR)
Last continental resources, inc. earnings: 2/26 04:15 pm
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Source: Reuters
Global oil supply to fall 6% by 2030 due to delayed projects: data LONDON (Reuters) - Global oil supplies may be 6% less than expected by 2030 because of delays to investments by energy companies in response to falling crude prices due to the coronavirus crisis, data from energy analysts at Rystad showed. Oil and gas companies across the world have slashed investment budgets, exiting projects or delaying bringing them onstream to counter a fall in crude prices to record lows due to a supply glut as the coronavirus outbreak destroyed demand. Graphic - Oil, gas companies' spending cuts per region - Woodmac: here Delayed final investment decisions (FID) for projects which take years to come on stream are already expected to shrink global supply of oil and gas by 5.6% by 2025, with the majority of the revisions coming from shale oil, mostly found in the United States, Rystad said. Continental Resources ( CLR.N ), the largest oil producer in North Dakota has halted most of its productio
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