Chart: 2017 producer spending plans are up but well off 2013 and 2014

Producers have announced capital spending plans of $28.64 billion for 2017, according to 58 companies tracked by the Daily Oil Bulletin.

While that would be up roughly 20 per cent on 2016 spending, it’s less than half the roughly $64.92 billion in capex for 2014 from 90 companies tracked by the Bulletin, and $50.93 billion from 91 companies for 2013.