The world’s energy companies found only 174 new oil and gas fields last year, a 60-year low, compared to an annual average of 400-500 in the years leading up to 2013.
Recent Oil articles
With Opec sticking to its cut in production, the oil price is hovering around $50 a barrel. But Donald Trump could easily change that, says John Stepek.
The US shale oil industry is adding more new rigs every month than at any point in the past two years, which should serve to cap the oil price rebound.
The quiet recovery in the oil price is a trend that hasn’t been getting as much attention as it should, but it may offer a trading opportunity, says Matthew Partridge.
David C Stevenson tips three of his favourite funds to profit from the rebound in the oil price.