Oil and Gas Companies Continue to Cut Capex for 2020, an Industrial Info Market Brief

More oil and gas companies are cutting planned capital expenditures (Capex) spending for 2020. Cuts range from 20% to 50% in estimated investments. Shell, Occidental, Devon, Diamondback and Ranger Resources are just a few of the pool of players that are cutting production in the upstream and midstream sectors. Demand and prices continue to fall, and companies are struggling to find ways to stay afloat.