Wood Mackenzie forecasts that global oil and gas development spend needs to increase by around 20 percent to meet future demand growth and ensure companies sustain production next decade.
Global oil and gas development spend needs to increase by around 20% to meet future demand growth and ensure companies sustain production next decade, according to energy consultancy Wood Mackenzie.
The oil and gas demand will peak in 2023 and 2034, respectively, according to DNV GL’s 2018 Energy Transition Outlook, an independent forecast of the world energy mix in the lead-up to 2050
