Optimism returns: WoodMac calls for $450 billion in upstream O&G project FIDs in 2017
According to Wood Mackenzie's global upstream outlook for 2017, confidence will start to return to the oil and gas sector in 2017, with exploration and production spend set to rise by 3% to US$450 billion.

The investment level is still 40% below the heady days of 2014, the group points out.

At the forefront of the revival will be U.S. tight oil. Costs will continue to fall in 2017, though only marginally.

U.S. tight oil, and the Permian basin in ...

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