A new report from Oslo-based research firm Rystad Energy released last week said global spending this year on oil and gas drilling is forecast to fall to its lowest level in 15 years – with shale investments expected “to take the biggest hit.” Rystad said shale spending will fall by more than 50 percent to $67.3 billion this year. Energy companies are expected to spend $383 billion in 2020 on drilling and pumping for oil and gas – a decline of 29 percent from $539 billion spent last year – and remain flat into 2021. “Companies are fiercely defending shareholder value and pivoting towards more conservative spending strategies in the near term,” analyst Olga Savenkova of Rystad said.