2016 global E&P spending expected to decline 15%-20% in 2016: Barclay’s
“That’s what Friends are For” was the Billboard Top 100 song the last time this happened. Exploration and production spending is expected to decline by 15% this year. That’s on top of a 23% decline last year, making 2016 the eighth decline in global spending in the last 31 years, and only the second consecutive two-year reduction in spending seen in the period.

According to Barclay’s E&P Spending Outlook, which has been conducted annually over the last three dec...

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