The year 2020 will be remembered as a difficult year for most of the world's population, companies and, above all, the oil and gas sector. Due to the coronavirus pandemic, the drop in fuel demand and the war between Saudi Arabia and Russia in the supply of the commodity are the main factors responsible for the drop in prices and minimal investments in the oil exploration and production segment worldwide.

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In an analysis carried out by consultancy Rystad Energy, it says that the Capex of the companies should be the lowest in the last 13 years. The analysis takes into account a scenario of US$ 34 per barrel this year and US$ 44 per barrel next year.

The estimate is that investments in exploration and production should fall by up to US$ 100 billion this year, totaling around US$ 450 billion.

However, if oil prices remain in the current range of US$ 25, global investments could fall to US$ 380 billion in 2020 and to almost US$ 300 billion in 2021. This result will represent the lowest values ​​of the last 14 and 15 years, respectively.

Rystad Energy added that the estimated cost cuts would be achieved mainly by lower activity within the US shale, delays in projects that had not yet reached the final investment decision (FID) stage, deferred exploration activity and cost cuts in the development and production of conventional assets.