Telegraph.co.uk | Global oil sector to lose out on $1 trillion as investment dries up Telegraph.co.uk The global oil industry faces dramatic cuts to spending and investment totalling $1 trillion (£705m) by the end of the decade, according to fresh expert analysis, as companies respond to the oil price rout by scrapping projects or delaying them in the ... 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 |