Spending on new oil, gas projects could fall by 68% this year - Rystad Energy
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OSLO (Reuters) - Spending on new oil and gas projects could fall by more than two thirds this year if oil prices remain at the current levels, the Oslo-based Rystad Energy consultancy said on Monday.Crude oil prices dropped more than 60% since the start of the year as demand fell due to travel and business restrictions to stem the spread of the coronavirus, while Russia and Saudi Arabia ended an agreement to curb production.Investments are likely to fall to $61 billion or by 68% if the Brent..