IEA Sees 50% Decline for Shale Capex in 2020

SUGAR LAND--June 8, 2020--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--Consumers around the world will spend an estimated $1 trillion less on oil this year compared with 2020 due to the economic stranglehold the COVID-19 pandemic exerts on countries around the world, the International Energy Agency (IEA) (Paris) said in a report released late last month. Global consumer outlays for oil in 2020 are expected to fall to about $2.5 billion this year, EIA said in its World Energy Investment 2020, released May 27.

Companies featured: Whiting Petroleum (NYSE:WLL)