IEA: Global oil discoveries and new projects fell to historic lows in 2016 while US shale surged; “two-speed” market
Green Car Congress
APRIL 27, 2017
This sharp slowdown in activity in the conventional oil sector was the result of reduced investment spending driven by low oil prices. It brings an additional cause of concern for global energy security at a time of heightened geopolitical risks in some major producer countries, such as Venezuela, the IEA said.
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