Monthly Global Upstream Review - Capital Expenditure Forecast Continues Decline


The global upstream industry is expected to witness a relatively low production increase with an average rate of 1% over the next four years, from 57,161 mmboe in 2016 to 59,210 mmboe by 2020. The average capital expenditure spending is expected to decrease from about US$190,976 million in 2016 to US$94,125 million in 2020. One of the main reasons for decrease in capex spending is downward trend in commodity pricing, which in turn affected development costs such as rig leasing. In total, 306 projects are expected to start operations across the world between 2016 to 2020 with Europe registering the highest number of planned projects (72) followed by South America (63), and Africa (57).


  • Global oil and gas production forecast by region for the period 2016 to 2020
  • Key economic metrics for the global oil and gas industry by key regions and companies
  • Global liquids and natural gas production forecast by region for the period 2016 to 2020
  • Capex spending forecast on planned projects by key regions and companies in the world

Reasons To Buy

  • Identify opportunities and challenges in the global upstream industry
  • Facilitate decision making on the basis of strong forecast of oil and gas production data
  • Develop business strategies with the help of specific insights on global production and capex outlook
  • Assess your competitor’s capex and key economic metrics