Horizons Live: Doing more with less
1 minute read
On this month's Horizons Live, our panel discusses debunking the myth of upstream underinvestment.
After three years of recovery, upstream spending is just under US$500 billion a year, up by a third from a 2020 low, but barely half the US$914 billion 2014 peak. The apparent ‘shortfall’ has fed a widespread belief that the industry is underinvesting and that a supply crunch is inevitable, be it sooner or later.