India's overall oil and gas output rose 1.3% on the year to 1.15 million boe/d in 2023. China's upstream story sounds relatively more promising at this stage.

Spending is also expected to be largely flat in 2021, landing only marginally higher than 2020 at $386 billion. Before the Covid-19 pandemic, expected total upstream investment would maintain last year’s levels, both in 2020 and 2021.

Oilfield services companies have lost approximately 49% of their market capitalization since the beginning of this year.

One of the top capital raising deals of Q3 2019 was Petroleos Mexicanos’ public offering of notes for gross proceeds of $7.5bn.

the U.S. the number of yet-to-be-fracked wells hit 8,289 in May, up 22% in a year, according to the U.S. Energy Information Administration.

OGJ - Spending on worldwide oil and gas developments needs to increase by about 20% to meet future demand growth and ensure companies sustain production over the next decade,

PLATTS - "Since 2013-2014 we have seen a rapid drop off in investment which we believe will bite the consumers and the industry as a whole," Falih said at a media briefing at the International Energy Forum. "We are trying to signal to the market, to the investors, to the financial community, to international oil companies to put investments back into the upstream."

PLATTS - Maintaining a long-term oil management alliance with Russia and other allies will allow OPEC producers to react more quickly to changing fundamentals and stabilize the market,

PLATTS - Russia is willing to work with the OPEC coalition indefinitely to regulate global oil supplies and has advocated the creation of a new global body to monitor crude markets, the country's energy minister said.

PLATTS - OPEC oil output in March fell to 32.14 million b/d, its lowest level in 11 months, led by declines in seven out of the 14 member countries,