Big Oil Firms Holding Back on Drilling… WSJ

by Jim Colburn • Monday, April 30, 2018

Bradley Olson and Sarah Kent, WSJ, write that oil companies are holding back on drilling despite higher oil prices, here …

”The wary response from the world’s biggest producers comes as a global oil glut that has hung over the industry for the past four years finally appears to be withering away. Without stepped-up spending on new oil production, the International Energy Agency warns, the world could flip from abundance to supply crunch by 2020.

A lack of investment is “potentially storing up trouble for the future,” the Paris-based agency said last month.”

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