Oil discoveries have fallen to a six-decade low as explorers cut billions of dollars of spending to ride out the biggest market slump in a generation. About 12.1 billion barrels of oil reserves were found in 2015, marking a fifth consecutive year of decline and the smallest volume since 1952, Oslo-based industry consultant Rystad Energy said in an e-mailed note. Oil exploration is typically the first casualty of a crude-price collapse. Companies from BP Plc to Royal Dutch Shell Plc have cut budgets and staff as […]