According to analysts of the International Energy Agency (IEA), this year, the global volume of investment in the oil industry will fall by 6%. Excluding the period of the COVID-19 pandemic, such a drop will be the first of this type over the past decade.
The IEA forecasts that total investment in oil and gas production in 2025 will be just under $570 billion. Global refining investment in 2025 will fall to its lowest level in 10 years to around $30 billion.
According to IEA head Fatih Birol, this situation is caused by a combination of economic uncertainty, lower demand, and weaker prices. At the same time, the decrease in the inflow of funds into the industry is mainly driven by a sharp reduction in the spending on oil production in the United States.
Earlier this year, crude oil price dynamics moved to a downward trend amid US President Donald Trump's tariff policy, which threatens to slow global GDP growth, and the resumption of previously reduced OPEC+ supplies.
The IEA's initial estimates for 2025, based on company statements, assumed oil and gas production spending would remain flat. However, since then, sentiment has become less optimistic due to lower commodity prices.