As one of the top energy researchers, the UK-based firm confirms the narrative widely heard in the market this year, which is that oil-price declines, falling oil-company budgets and price sensitivity have all put the brakes on offshore projects.
In Douglas-Westwood’s latest edition of its “World Deepwater Market Forecast”, it predicts a low point in the deepwater spending cycle this year and next year, followed by an increase after 2016.
