CNBC | Global oil industry's retrenchment tops a staggering $1 trillion CNBC The collapse in crude prices is turning into a trillion-dollar retrenchment for the global oil industry. That's the latest tally from energy researchers at Wood MacKenzie, which tracks capital investment by oil and gas producers around the world ... Oil industry's $1tn spending cut raises fears over future supply Oil Industry to Cut $1 Trillion in Spending After Price Fall US$1 trillion cut from global oil industry spending plans: Wood Mackenzie |