U.K. Oil Industry Faces Output Drop After Virus Pummels Spending
- Investment fell to the lowest in 16 years in 2020, OGUK says
- Industry body sees further production declines this year, next
This article is for subscribers only.
Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.
The U.K.’s oil and gas industry faces a struggle to recover from an investment slump sparked by the coronavirus and in the longer term will have to manage a prolonged decline in output, according to its trade body.