The period from 2010 to 2014 witnessed the highest sustained oil price environment in recent memory, with Brent averaging $110 a barrel and WTI $95 a barrel. This high oil price era ushered a period of unprecedented capital investment in oil and gas extraction, as global capital investments rose from $500B in 2010 to $700B by 2014 (do note some of the increase is due to cost inflation, hence, the magnitude of the capital spending increase, and its subsequent decease, is tampered to some extent by changes in unit cost). (Click to enlarge) (Source:…
