Investment in the exploration and production side of the oil and gas sector could flirt with historic lows if oil prices remain depressed, a U.S. brief said. “Low oil prices, if sustained, could mark the beginning of a long-term drop in upstream oil and natural gas investment,” a brief from the federal Energy Information Administration said. West Texas Intermediate, the U.S. benchmark for crude oil prices, at around $44 per barrel are roughly 50 percent lower than this date in 2014. EIA explains investments in upstream activity, the exploration and production side of the industry, is “highly sensitive” to fluctuations in crude oil prices. Most companies focused heavily on exploration and production have cut spending and staff in […]