Oil industry may never again reach last year’s investment peak

Oil industry may never again reach last year’s investment peak

Oil industry may never again reach last year’s investment peak In 2014 the oil industry invested $56 billion in capital projects but that may stay as an all-time peak. A report released Wednesday by the Conference Board predicts a 20 per cent decrease in investment this year and that the industry will post a 37 per cent drop in revenue with pre-tax losses of $3 billion. The report forecasts that the effects of the recent downturn will be felt for many years to come and that there may not be a return to the level of investment seen last year.