Global spending in exploration and production over the next two years is expected to be about half what it was between 2012 and 2014, OPEC said in a monthly report. In February, when crude oil prices were hovering around $30 per barrel, a review from the U.S. Energy Information Administration found 2015 investments in the energy industry declined in the United States by more than 30 percent last year. Even though crude oil prices have recovered about $15 per barrel since then, companies handing in their first quarter reports took notice of the resultant decline in industry spending. Oil field services companies Baker Hughes and Halliburton each reported heavy losses. Paal Kibsgaard, the CEO of industry leader Schlumberger, said the market was […]