production info

 In July, Wood Mackenzie reported oil and gas companies have delayed some $200 billion of investment in more than 45 projects, exclusive of U.S. shale, due to the price slump. More than half of affected reserves are in deep-water projects, and nearly 30 percent are in Canadian oil sands. In September, Wood Mackenzie predicted 140 of the 330 fields in the UK North Sea could close in the next five years, even if oil prices recover to $85 a barrel. Some 5 million b/d of supply has been deferred or canceled. This means supply that had previously been expected to become available in 2018 or 2019 will not be there.