Despite the rebound in oil prices this year, domestic energy producers don’t appear to believe in a sustainable recovery judging by the further decline in oil & gas drilling rig activity. Falling investment in the oil & gas industry more generally indicates that production growth will slow before declining outright later this year, unless further gains in oil prices are enough to convince producers otherwise.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services