In the face of falling oil prices, confidence in the outlook for the oil and gas industry has dropped dramatically among sector professionals from 65% to 28% in the last three months, according to new research published last month by DNV GL. The pessimistic outlook is also reflected in capital expenditure (capex) intentions, with those planning to increase capex in the same time period dropping from 40% to 12%, and those planning to reduce headcount increasing from 26% to 47%.
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