Decline in Global Oil and Gas Field Output Accelerating, IEA Says

The decline in output from mature global oil and gas fields is accelerating amid greater reliance on shale and deep offshore resources, the International Energy Agency said on Tuesday, meaning companies need to invest more just to keep output flat.

The IEA, which advises industrialised countries, is under fire from U.S. President Donald Trump's administration for a recent shift to focus on clean energy policy. A 2021 IEA report said there should be no investment in new oil, gas and coal projects if the world was serious about meeting climate targets...

 

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