US$75 billion cut from Sub Saharan Africa upstream capital expenditure so far: Wood Mackenzie has revised down its long term oil price forecast from US$80 to US$70 in expectation of lower for longer oil prices. More and more has been taken from company capital budgets and so we are reviewing all projects in the region. During this quarter we have remodelled over 60 of the most high profile assets and reduced near term spend to 2020 by 20% or US$75 billion so far with more still to come. This report includes the Sub Saharan Africa Upstream Data Dashboard which is included in the Downloads section. The data dashboard gives a snapshot of the latest licensing drilling discoveries development production corporate and M&A activity.