Big Oil must spend $500 billion yearly just to offset declining fields amid Russian disruptions

The global oil industry is bleeding money just to stand still. According to reporting from the International Energy Agency on Tuesday, oil producers are now forced to spend $500 billion every year just to keep existing fields from collapsing. That’s just to stop production from falling apart. And the losses are accelerating faster than anyone […] source: https://www.cryptopolitan.com/big-oil-500b-to-offset-declining-fields/