Tag: discoveries

Global oil discoveries, new projects fell to historic lows in 2016 – IEA

Global oil discoveries, new projects fell to historic lows in 2016 – IEA

Average break-even price in Permian basin in Texas is now at $40-45/bbl Global oil discoveries fell to a record low in 2016 as companies continued to cut spending and conventional oil projects sanctioned were at the lowest level in more than 70 years, according to the International Energy Agency, which warned that both trends could […]