The coronavirus outbreak could cut oil industry investment this year by tens of billions of dollars and delay the delivery of offshore installations currently being built at Asian yards, Oslo-based consultancy Rystad Energy predicted on Friday.
“Our current assessment forecasts that COVID-19 could result in global exploration and production (E&P) investments falling by around $30 billion in 2020,” said Audun Martinsen, head of Rystad’s oilfield service research.
